Job creation fell in May and April’s was revised even lower, not at all aligned with market expectations. The bond market is rallying this morning with only 138K jobs created in May, 47K less than expected. Average hourly earnings rose 0.2% and are up 2.5% year over year. The Unemployment Rate also dropped faintly to 4.3%. It will be interesting to see how this impacts the Fed but overall the report was disappointing.
Colorado Springs is the top place homebuyers are moving to while pricey San Francisco remains on the opposite end of the spectrum. Located an hour outside of Denver, Colorado Springs’ homes cost about 54% less than those in Denver. Homebuyers are looking at affordable homes with access to good job locations, accepting a longer commute to do so. The Sunshine State houses three of the top five metros where homebuyers are looking for a second home.
Fun Fact Friday: According to and declared by President Trump, it’s National Homeownership Month. At Hall Financial, every day is National Homeowner Day but good idea.