The job numbers show that e-commerce, housing demand, COVID-19 research/testing, and information technology services have been the factors driving job growth during May-November.
The unadjusted new jobless claims totaled 713,824 in the week ending November 28, a decrease of 15% from the previous week.
With teleworking at record high levels, people also decide to move for various reasons.
Jobs recovery becomes even more important to sustain homebuying. Jobs are also critical for commercial real estate.
Mortgage rates hit a new record low this week, decreasing the spread with the 10-year Treasury rate to a more normal range.
38% of renters can afford to buy a home but need 13 years of savings to make a 10% down payment.
E-commerce as a percent of total U.S. retail was 10.8% in Q2 2019 while Q2 2020 represents 16.1%.
The new October 2020 NAR SentriLock Home Showings Report indicates that there was a slight decrease in nationwide foot traffic on a month-over-month basis, but showings activity remain at elevated levels with respect to year-over-year activity.
The unadjusted new jobless claims totaled 743,460 in the week ending November 14, an increase of 3% from the previous week.
REALTORS® report "COVID and elections" as the major issues affecting transactions in October 2020.
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