Sunday News: Dayton Blues

Posted by Kelly McCormick on Sunday, July 6th, 2014 at 9:01am.    973 Views

Can Understanding Dayton's Job Market Boost Home Sales?

Dayton Ohio Real Estate News JobsI wonder if you feel it does? In fact, it may not mean much of anything to some selling and listing Realtors in the market place today. Those with a tried and true clientele, who refer them to the consumer pool who are moving, relocating out of state, or buying currently.

Career agents have a good source of business, but in fact I do believe this news is relevant to all because it helps educate our consumers, and create positive -knowledgeable feedback for the market place you are targeting.

The first thing one thinks about when reading this article is; Jobs Are Down...while reading further into the story, it is explained that a large number of job seekers have dropped off the job market, and that we in the Dayton area are seeing a slower recovery, as compared to the national average for employment - But - it is expected, due to the loss of manufacturing since 2001, there was more to recover from. And, there is good news in this article too:

  • The south market is trending up in jobs, especially Cincinnati
  • The Springfield market is recovering well
  • Isolated areas are doing well, such as [Beavercreek/Bellbrook] - my opinion
  • Dayton (Montgomery County) jobs are increasing - just slowly
  • Unexpected jobs and business opportunities coming, as a run-off of Cincy; due to our unique location, manufacturing, and access to HWY 70/75/675
  • Returning manufacturing jobs from companies that relocated out of the country
  • That is my take on the article. Please feel free to use this piece with your customers. Researching and using information about our local area, can help you prepare for the specific needs of consumers, and make necessary changes in marketing activities, while understanding the behavior of buyers and seller's concerns, helps keep transactions together; for instance:
  • Pricing could continue to be a factor that will likely keep home sales slower than the national average, especially in Montgomery County.
  • Buyers - There is less of a buyer pool due to jobs. Also, high student loan repayments (NAR article) , coupled with more difficult lending requirements, making it harder to go from contract to closing.

Staying very tuned into the buying process - may be the one most important tip I can give you today with respect to lender requirements. Keep your deals from falling through the cracks, and seeing sellers loose critical 'market' time while waiting for a loan to be approved, as a buyer faces unforeseen issues that prevent "underwriting approval". Know your deals.

1 Response to "Sunday News: Dayton Blues"

Greg Hancock wrote: Hey there Kelly,

Love this, and thanks for sharing these insights for agents. It really does help to understand the local jobs market in any city, especially with knowing your markets and how they are affected by such. What I see here based on your post (and agree as I see similar) is that Dayton Ohio real estate is enjoying slow but steady growth.

While I personally believe it's an excellent time to buy a home, the real estate landscape could change drastically by this time next year with both mortgage lending rates and prices. Marty and I have been telling our straggling clients to get off the fence if they want to save thousands down the road. Thanks again for the great read!

Posted on Sunday, July 6th, 2014 at 12:39pm.

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