Job market in the United States123:

-In January 2024, 353,000 jobs were created, which is twice as many as expected.

-The unemployment rate remained stable at 3.7%.

However, some indicators are showing signs of weakness. For example, the average working week has fallen to its lowest level since the 2020 recession.

- In February 2024, the job market showed signs of slowing, but the unemployment rate remained low at 3.6%.

Impact on the private real estate market67:

The residential real estate market in the United States is estimated to reach USD 2.53 billion in 2023 and is expected to reach USD 2.80 billion by 2028.

-The years 2020 and 2021 have seen a home-buying frenzy in the United States, with historically low interest rates, double-digit price increases, low housing supply and bidding wars.

-However, in 2022, skyrocketing mortgage rates, increasing monthly payments and loss of purchasing power have virtually paralyzed the market

-.The slowdown in sales that began in February 2022 is expected to continue into 2023 as buyers face high mortgage rates, limited housing supply and continued high house prices.