Strong jobs report scores ‘small win’ for housing market
The US economy added 178,000 jobs in March, potentially bringing good news for the housing market. However, the momentum may not continue into April due to economic disruption and uncertainty.
The US economy added 178,000 jobs in March, slightly reducing the unemployment rate. Year-over-year wage growth was 3.5%, outpacing inflation. This could help improve housing affordability. The strong jobs report may bring good news for the spring homebuying season. However, February jobs numbers were revised downward and March's survey window predates the worst of the economic disruption. The labor market continues to show resilience, but the line between stabilizing and stagnating remains thin. The next jobs report will determine if this 'small win' turns into something more for the wider economy.
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