The following is NAR Managing Director of Housing and Commercial Research George Ratiu’s reaction to this morning’s U.S. Bureau of Labor Statistics release on the July employment situation:

“The employment report showed solid gains in July, with 209,000 net new payroll jobs. With the unemployment rate unchanged at 4.3 percent, the data points to continued strengthening of the labor market. The figures moved in tandem with the traditional summer season, showing employment gains in restaurants, professional and business services, and health care. The moves translate into continued demand for commercial office space. On the residential side, housing demand will keep inventory at very tight levels until additional new construction relieves existing pricing pressures.”

Source: Newsline

Copyright NATIONAL ASSOCIATION OF REALTORS®. Reprinted with permission.

This Article Appears Courtesy of Steven Diadoo

Steven Diadoo, Licensed Realtor in MN with BRIDGE REALTY and best-selling author of 'Road to Success' with Jack Canfield (Chicken Soup for the Soul), Board Member at Bowling for Brains Non-Profit 501(c)3 (Event to benefit the American Brain Tumor Association), licensed Realtor with Bridge Realty, Seen on DIY TV, Create Channel and PBS. For help buying and/or selling a house, please call (952) 270-6141 or Click here.