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JOB GROWTH & A STRENGTHENING ECONOMY EXPECTED TO BOOST HOME SALES IN 2015

Posted by Brittany Bosher on Thursday, February 12th, 2015 at 3:54pm.

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Infographic: National Association of Realtors
 
2015 is full steam ahead with positive market trends in more than one market! Well into February and 2015 is continuing to show signs of a healthier economy in the United States. “Existing-home sales are forecasted to rise about 7% in 2015 behind a strengthening economy, due to solid job gains and a healthy increase in home prices,” according to National Association of Realtors’ Chief Economist, Lawrence Yun.

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

 

 

 

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