The good news is that the unemployment rate is low and dropping.
The better news, if you’re in the market for a house, is that this might mean that people are willing to move for jobs – something that hasn’t been happening much – and that might push some houses onto the market.
In 2016, the Census Bureau reported that 11.2% of Americans moved, and only 20.2% made job-related moves. But as more jobs go unfilled, it’s possible that employers will raise wages. Some people might soon be willing to move for a new job and that means that they might be selling their houses.
Especially if you’re a first-time buyer, the trick is to get early notice of these houses. You’ll want to monitor the multiple listing service for your area, of course – that’s the database that all real estate agents (including USRealty.com) use to list houses for agents to see – andfor the public to see, too, through sites like Realtor.com and Trulia.
- Put the word out through social groups (in real life and online), clubs and sports teams that you’re looking for a house in a certain neighborhood.
- Familiarize yourself with neighborhoods poplar with fast-growing companies that might be transferring employees. If certain neighborhoods are convenient to expanding companies, there might be a burst of houses coming on the market.
- Get read to move fast. Check out home inspectors, get pre-approved for a mortgage, and move money from longer-term savings to a checking account so you can write a check on the spot if need be.
- Bone up on local real estate processes, traditions laws and fees. It’s easy to be taken by surprise by fees and taxes that crop up at the last minute. Ask a local title company for a copy of a closing sheet so you can see all the items that have to be paid to close on a house purchase.