Jobs Report Offers Hope for Inventory Crisis

Real Estate

Jobs Report Offers Hope for Inventory Crisis

The March jobs report showed an increase in employment within the construction sector, which could be a welcome sign that more inventory will soon be coming to the new-home housing market. Employment rose 215,000 in March as the unemployment rate remained at 5 percent, according to a report released Friday by the U.S. Bureau of Labor Statistics. But a closer look at the data shows that construction jobs rose by 37,000 in March. Doug Duncan, Fannie Mae’s chief economist, cites the uptick as a response to the short supply of homes for sale. Throughout the year, the construction sector has added 301,000 jobs.

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