As the American economy continues to improve and job gains accelerate the ripple effect onto markets such the housing market, especially in home sales. Last year across the nation, 2.95 million new jobs were added to the American economy. Many larger, metro markets (around cities) show the biggest increase in percentages. For example, Orlando’s job increase went up by 4.3% (one of the highest increases in the nation) and Miami’s job market increased by 3.0%. So far, North Dakota and Texas are leading the nation with state job growth but Florida is not far behind. Some of the states at the bottom of the growth pattern are Ohio, Mississippi, New Jersey, Virginia and Alaska.
This positive increase will greatly impact both residential and commercial real estate markets. For more information on job growth in the United States and the impacts on the housing market, please visit: www.realtor.org.