REALTORS STAY THE COURSE

Jobs tied to home sales – including real estate associates, appraisers, architects, building inspectors, landscapers and interior designers – posted a monthly net gain of about 6,900 in 2006 compared to 2005 numbers, according to the Mortgage Bankers Association’s “Trends in Housing-Related Employment” report. At the same time, however, the residential construction industry lost 45,000 jobs and the mortgage industry lost 19,000 jobs. According to the MBA, “If housing activity recovers gradually late this year as we expect, housing-related employment should, at a minimum, be neutral or contribute to overall job gains in 2008.” The report also indicates that the housing downturn was responsible for a 1-percent drop in overall economic growth in the first quarter.

Source: Inman News (05/22/07)
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