Unemployment is down, home prices inch up in Tulare County and Visalia

Tulare County unemployment mostly rebounds from pandemic, median housing prices in the county are $324,000 compared to $346,000 in Visalia

TULARE COUNTY – Businesses are hiring, and while some would-be workers are waiting for their extended unemployment benefits to end, others are leaping into the scarce workforce.

In Tulare County the unemployment rate was 10.2% in May 2021, down from a revised 11% in April, and below the year-ago estimate of 16.5%. This compares with an unadjusted unemployment rate of 7.5% for California and 5.5% for the nation during the same period.

Tulare County has approximately 5,400 more jobs than a year ago including 1,700 more in the hospitality industry, according to the California Employment Development Department. And more income may be exactly what workers need as housing prices continue to inch upward.

Visalia and Tulare County median home price are hitting a record high. Tulare County’s median home sales price in May hit a record at $324,350 says Brett Taylor, CEO of Tulare County Association of Realtors. Visalia- as well – hit a new high median number at $346,00, adds Taylor, calling the trend “remarkable.”

On the state level, California Association of Realtors reports existing single-family home sales totaled 445,660 in May, down 2.7 percent from April and up 86.7 percent from May 2020.

May’s statewide median home price was $818,260, up 0.5 percent from April and up 39.1 percent from May 2020.Year-to-date statewide home sales were up 34.6 percent in May.

Tulare County sales are up 17% year to date.

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