Unemployment falls to 3.7%, lowest since 1969
With 134,000 jobs added in September, the US is experiencing the highest employment levels since Neil Armstrong set foot on the moon in 1969. This has been a giant leap forward since October of 2009 when unemployment spiked to 10 percent.
However, we're now experiencing a slowdown in overall hiring due to the lack of available or qualified workers. No new workers = no need for new space.
Meantime, Real Capital Analytics, our SVN source for economic indicator data, shows the composite price index pushed up 1 percent in August. That's up 7.7 percent from one year ago and represents a faster pace of price growth than we have seen throughout the earlier months in 2018.
Overall, there appears to be ongoing strong interest in acquiring investment real estate.
The apartment sector remains the price leader, up 1.2 percent in August and 12.3 percent from a year ago. And so the upswell in property values continues as our economy moves onward and upward.