The economy added 292,000 jobs in December, more than anyone predicted, pushing 2015 into a robust year for employment growth. Builders in particular reported a spurt of hiring, a good sign for housing.
The good news is we’ve had two really strong back-to-back years for job creation. Wages are up 2.5 percent from a year ago, and more people joined the labor force in December, according to a report from the Labor Department.
The economy is on solid footing.
Housing is playing a starring role. Builders added 45,000 jobs in December after a 48,000 increase in November and construction workers put in longer hours last month!
This was a boom to the huge increase in jobs overall and it bodes well for housing starts in the first quarter. In the not so distant past the lack of workers has been a big impediment to new construction.
And the surprising jump in employment suggests the Fed might move more quickly to raise interest rates than we first thought.
While the central bank doesn’t control mortgages, we can expect home loans to get more expensive this year as the economy improves.
What does this mean to you?
We are still fortunate to capitalize on low interest rates and buy a brand new home with many benefits that you will not get in an older home that has been previously lived in.
From superior insulation to solar power to sustainable material, many new homebuilders offer energy efficient construction and design.
With a growing demand for energy–efficient homes, investing in a newly built home now can mean increased value in the future and lower bills today.
• Newly built homes offer three times the closet space.
• Newly built homes offer higher ceilings
• Newly built homes offer twice the bathroom space
• Affordability!!!
Call your Realtor today and explore new construction homes for a…
“Life style worth living!”