The Bureau of Labor Statistics monthly jobs report came out this morning, showing the Unemployment Rate has risen from 4.1% to 4.2%. It’s in line with analyst expectations. There were 227,000 new jobs created this month, which is 7000 more than anticipated. Hourly hourly earnings are growing at 4% year-over-year. The BLM report is a mixed bag, but the lack of surprises is helping interest rates marginally improve.

Over the last 50 years, home prices have risen 200% more than individual income. That’s made affordability a huge concern, as you know all too well. The fact that wages are up 4% over the last 12 months is encouraging for affordability on one hand, while on the other is also inflationary.  And we know that inflation is what caused interest rates to rise over the last four years.

Coincidentally, realtor.com published their 2025 housing price forecast this morning.  In it they peg home prices nationwide to rise 4% in 2025–which is exactly the pace at which income is expected to grow. We’ll take any help we can get.