As the national unemployment rate continues to fluctuate and has avoided significant improvement, the country's real estate market has suffered subsequently.
Now, with job creation and availability still struggling, one real estate expert relayed that U.S. home prices will continue to fall.
Ted Jones, senior vice president and chief economist for Stewart Title, recently guaranteed that prices will slide when speaking to the National Association of Real Estate Editors.
During May, just 54,000 jobs were created nationwide. This has directly affected the country's real estate, as "more jobs are needed for more home sales, which eventually will lead to price increases," as the Express-News in San Antonio recently wrote.
According to a recent Standard & Poor's/Case-Shiller index, the prices of homes in 20 cities collectively dropped 3.6 percent at the end of March, the lowest level experienced in some time.
Despite the national trend, jobs have increased in Houston recently, which has positively impacted its real estate market. According to a recent Altos Research report, values of Houston properties increased during May from April.
Courtesy of 2M Realty News