Local Unemployment Rate Edges Down Below 5%

The local unemployment rate (Harrisonburg / Rockingham MSA) edged down to 4.8% in October 2014.  That shows a slight decline from the several months prior -- as well as an overall improvement from a big picture perspective....

• The average monthly unemployment rate over the past 12 months has been 4.98%.
   
  
• The average monthly unemployment rate over the previous 12 months (13-24 months ago) was 5.34%.

Low unemployment rates keep our local housing market healthy by keeping our foreclosure rate low along with not creating too many desperate sellers who sell at any price and affect pricing trends.

For even more analysis of our local housing market, check out my full December 2014 market report online, or by downloading the PDF.

   Learn more about this month's Featured Property:  3339 Deavers Lane