Whether you’re looking to potential home buyer, home seller, real estate broker, or a property inspector, the fluctuating state of the housing market has probably made you raise your eyebrows a few times. Instability undoubtedly causes worry and strain, especially when the nation’s economy is a heavy influencer. Still, it’s important not to just keep your ears to the ground for bad news because there’s much good news to take into account as well. Things ultimately take time to improve, and these latest tell-tale signs could be the start of something promising in an industry that’s been hurting for a long time.
The Job Market’s on the Rise
One of the main indicators that the housing market is in better shape is that the unemployment has significantly dropped during these last few months. The U.S. economy previously suffered major blows during a historic financial crisis that ultimately left many citizens out of work and unable to pour back into the market. With more employers opening their doors again, jobseekers are likely to start making consistent incomes that can afford them the opportunity to become homeowners.
Construction of New Homes at an All-Time High
The L.A. Times indicates that the construction of newly built homes rose to an eight-month high in July and more positivity is on the way. A solid report on the uptick in construction has already caused the stock market to flourish, and the industry is destined to be part of the stabilization of the employment market with more jobs being offered to construction workers. As a property inspector, it’s essential to take this news as a sign that things are definitely looking up, in terms of attracting more prospects in need of professional evaluations for new homes.
Sales for Home Improvement Retailers are Improving
In addition, sales for home improvement chains are skyrocketing. Home Depot, for instance, affirmed its latest high income net worth which was well-received. While many housing analysts don’t foresee this news as being a direct indicator of progression in the housing market, other people are thrilled that this could be a sign of new beginnings. Again, this information says a lot for the seasoned and beginning property inspector who’s in demand among individuals who want to confirm what repairs need to be made on properties before they close a deal and set foot inside a home improvement store.
Better Loan Lending Standards
The mortgage industry is also filled with more conscientious banks and loan suppliers that set strict guideline for house hunters. In the past, the provision of illegitimate packages to unqualified borrowers have caused further damage to an ailing housing market, so the growing presence of lenders with strong criterion is viewed as another step in the right direction.
Foreclosures are at an all-time low as well, which suggests a favorable turn for the housing market. Declining foreclosure inventory has turned into a regional phenomenon and continues to make impressive strides that prospective homeowners and professional realtors can be proud of.