This article is an excerpt from the June 27 edition of The Medical News Now newsletter.
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What a difference a week makes.
The month of June saw a big jump in the number of people with jobs in the United States, with a whopping 13.6 million more people with full- or part-time jobs in June compared to May, according to the Labor Department.
It was the third straight month with more people in jobs.
The number of Americans employed full- and part-timers jumped by nearly 2 million, from 19.6 percent of the working population in June to 24.5 percent, the U.S. Census Bureau reported.
The job gains have been accompanied by a surge in demand.
Americans are also taking on more debt, which is creating a lot of pressure on the housing market, which has been the main driver of home prices, the economy, and overall economic growth.
How much does this affect your family?
The median monthly income for a family of four in June was $42,500, up from $38,000 in May.
In addition, the average monthly household income for Americans with jobs was $51,300, up 5 percent from May, the Labor report said.
But even though median incomes have increased, median home prices have dropped by a full percentage point, which means they are more expensive than they were last year.
The average monthly cost for a home in May was $2,200, which was up 9 percent from the same month in 2016.
The median price for a single family home in June rose 2.6 percentage points to $1,567, up 9.7 percent from a year ago.
And the median price of a two-family home rose 7.7 percentage points, up 6.5 percentage points from a quarter ago.
Home price appreciationThe median home price increase in June fell from $2.8 million to $2 million.
The typical price rose an average of 8.2 percent from April to June.
The median price is the price that would be paid to buy a home with a down payment of $1 million or less.
“The market is generally very good at the moment, but there is some volatility in the markets,” said John Breslow, president and CEO of Realtor.com, a marketplace that provides real estate and investment services.
While the median home value has been rising for most of the past decade, it has been slower in the past three years, Bresold said.
He expects prices to continue rising at a healthy pace for a few more years, though.
This article is from the May 2018 issue of The Healthletter.
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