The May jobs report is out with 272,000 jobs added and unemployment hitting 4%. What does this mean for real estate? 👀🏡

Here's a quick breakdown:

➡️ Jobs Added: 272,000, significantly above the 190,000 expected.

➡️ Unemployment Rate: Up to 4%, the highest since January 2022.

➡️ Wages: Increased by 0.4% from last month and 4.1% year-over-year.

Market Impact:

➡️ Federal Reserve: Likely to keep rates steady, with no cuts expected soon.

➡️ Mortgage Rates: Predicted to remain stable, with no significant drops in sight.

Advice for Buyers:

➡️ Expect steady mortgage rates.

➡️ Inventory is rising, which might offer more opportunities.

➡️ Focus on purchasing now rather than waiting for lower rates, which might not come soon.

Advice for Sellers:

➡️ Current market conditions may be optimal for selling.

➡️ Increased inventory might reduce your leverage over time.

For personalized advice, schedule a call with our team! ☎️ https://calendly.com/tomtoole