National Economic Report For Third Quarter

Our real estate professionals at Mirabal Montalvo are dedicated to providing you with the latest news and current real estate housing and economy market trends.  Put your trust in the experts at Mirabal Montalvo, as we are knowledgeable beyond the real estate scope of the Corpus Christi region.  We’ll provide you with an inside look behind this year’s third quarter report on the US’s economic and current real estate housing market condition.

Third quarter reports reveal that the housing market experienced growth, as sales figures increased while vacancy levels and inventory both decreased. Apartments were especially attractive to recent investors, and competition for buying all types of properties is rising, which has lead to an overall increase in property prices. Though the housing market has been slow to recover, projections of continual growth and rising prices are expected heal the housing market. Prospective buyers and investors are encouraged to invest now as low prices, mortgage and interest rates are anticipated to increase.

In recent months the job market was optimistic, as many new job opportunities have risen. Each month from April to June 2012, there was an average addition of 80,000 jobs, with no increase in the current unemployment rate.  When compared to countries hit hardest by the financial crisis, the US unemployment rate is low at 8.2%, which is still well below the EU’s 10.3%.

A look at this year’s third quarter report evokes a positive outlook towards a steady path of recovery in the housing market, with promising signs for the current unemployment rate and current economic job market.  With a steady increase in opportunities for new jobs in recent months, we can remain hopeful for the future of the job market. Prospective buyers are strongly recommended take advantage of today’s low prices in the housing market as prices are expected rise in the future.