When companies are hiring, would-be homebuyers feel more confident about taking on mortgage debt.
During the recession, companies slashed positions sending the unemployment rate soaring to 10 percent and frightening potential homebuyers. But in 2015 job growth continues to strengthen adding hundreds of thousands of jobs each month. The unemployment rate has tumbled to nearly 5.5 percent.
As that good news sinks in, optimism rises. The Consumer Confidence Index shows confidence is running 19.5 percent higher than a year ago.
Our San Diego housing market continues to strengthen.
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