Homebuilders and real estate firms posted strong hiring trends even as a federal jobs report came up far short of expectations for November.
Hiring remained strong in November throughout the real estate industry even as jobs numbers disappointed nationwide, with homebuilders leading the charge.
Residential construction companies employed a seasonally adjusted 888,900 workers in November — an increase of half a percent from the previous month and 6.2 percent higher than the same time last year, according to the U.S. Department of Labor’s latest jobs report.
In a statement, National Association of Realtors Chief Economist Lawrence Yun said the hiring news represents a sign that “a supply of more homes is in the pipeline.”
The report also held positive news for firms that employ real estate agents.
Real estate firms, a category that includes brokerages, also posted strong hiring numbers. These firms added a seasonally adjusted 4,900 jobs…