OPEN HOUSE TODAY SHAWNEE UPDATED 2 STORY

Welcome to your new home!
Welcome to your new home! Come out to see this beautiful home during our OPEN HOUSE today from 1:00-3:00 pm and make it yours! Contact Anica at 816-719-3300 for questions.

 

Donations being accepted for ReStore for Habitat For Humanity

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Donate to Habitat for Humanity
of Kansas City’s ReStore on Aug. 28
What is ReStore?
ReStore is a discount home improvement store operated by and benefiting Habitat for Humanity.
What can I donate?
New and gently used household items like furniture, appliances and building supplies from cabinets to doors to lighting fixtures and more. See of a detailed list of accepted items here.
How does this help Habitat for Humanity?
Donated items are sold at deeply discounted prices to raise funds for Habitat’s affordable housing programs: homeownership, minor home repairs and financial education. Learn more about Habitat for Humanity of KC’s mission here.
Why Aug. 28?
This is the time of year when we would ordinarily be preparing for our annual REALTORS® Rock the Block event with Habitat for Humanity of Kansas City. Unfortunately, the virus prevents us from gathering at such a large event, but we still want to show our love for Habitat for Humanity and the amazing work they’re doing in Kansas City. Of course, donating to ReStore at any time is a great help to Habitat KC, but on Aug. 28, we will have a group of REALTOR®  volunteers at the Martin City ReStore to help you drop off your donations.
Can my clients
donate too?
Yes! ReStore is a great opportunity for homeowners who are remodeling to give their unneeded household items new life while helping Habitat KC. We would love to see your clients on Aug. 28 too!
KCRAR ReStore Donation Drop-Off Day
Aug. 28, 10 a.m. – 4 p.m.
Martin City ReStore
13531 Wyandotte St., Kansas City, MO 64145

Good News

The Latest Unemployment Report: Slow and Steady Improvement

The Latest Unemployment Report: Slow and Steady Improvement | MyKCM

Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%.

When the official report came out, it revealed that 1.8 million jobs were added, and the unemployment rate fell to 10.2% (from 11.1% last month). Once again, this is excellent news as this was the third consecutive month the unemployment rate decreased.The Latest Unemployment Report: Slow and Steady Improvement | MyKCMThere is, however, still a long way to go before the job market fully recovers. The Wall Street Journal (WSJ) put a potential date on that recovery:

“July’s payroll growth, at 1.8 million, still leaves total payrolls 12.9 million lower than in February. And yet if job gains continued at July’s pace, that deficit will be erased by March 2021. If payrolls reclaim their last peak in 13 months, that would be remarkably fast. It took more than six years after the last recession.”

Permanent vs. Temporary Unemployment

During a pandemic, it’s important to differentiate those who have lost their jobs on a temporary basis from those who have lost them on a permanent basis. Morgan Stanley economists noted in the same WSJ article:

“The rate of churn in the labor market remains incredibly high, but a notable positive detail in this month’s report was the downtick in the rate of new permanent layoffs.”

To address this, the core unemployment rate becomes increasingly important. It identifies the number of people who have permanently lost their jobs. This measure subtracts temporary layoffs and adds unemployed who did not search for a job recently. Jed Kolko, Chief Economist at Indeed and the founder of the index reported:

“Core unemployment fell in July for the first time in the pandemic. That’s the good news I was hoping for.”

What about the housing market?

The housing market has continued to show tremendous resilience during the pandemic. Commenting on the labor report, Robert Dietz, Chief Economist for the National Association of Home Builders (NAHB), tweeted:

“Housing continues to rebound in another positive labor market report. Home builder and remodeler job gains of 24K for July. Residential construction employment down just 56.4K compared to a year ago. Total residential construction employment at 2.85 million.”

Bottom Line

We should remain cautious in our optimism, as the recovery is ultimately tied to our future success in mitigating the ongoing health crisis. However, as Mike Fratantoni, Chief Economist for the Mortgage Bankers Association, reminds us“The pace of job growth slowed in July, but the gains over the past three months represent an impressive rebound during the ongoing economic challenges brought forth by the pandemic.”

2020 Homebuyer Preferences

2020 Homebuyer Preferences [INFOGRAPHIC] | MyKCM

Some Highlights

  • A recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers.
  • Many buyers are accelerating their timelines to take advantage of low mortgage rates, and staying home has enabled some to save more money to put toward a down payment.
  • Let’s connect today if your needs have recently changed and you’re ready to make a move this year.