NAR_grey_logo-01

Latest Metro Employment Conditions

Common sense says where there are jobs, there are better home sales and commercial leasing opportunities.  So which markets are generating jobs and which are not?

  • The fastest job creating large cities over the past 12 months:
    • Austin, TX                  (+3.8%)
    • Nashville, TN              (+3.7%)
    • Dallas-Ft. Worth, TX (+3.6%)
    • Houston, TX               (+3.4%)
  • The fastest job creating small towns over the past 12 months:
    • Santa Cruz, CA           (+6.2%)
    • Midland, TX               (+5.6%)
    • Winchester, VA          (+5.6%)
    • Odessa, TX                 (+5.0%)
  • By comparison, the U.S. job growth rate as a whole is 1.6 percent.
  • Unfortunately, there are still areas where jobs are being cut, and the notable ones are:
    • Cleveland
    • Atlantic City
    • Peoria
  • One market with a long streak of job creation is Bismarck, ND.  The unemployment rate is only 2.4 percent. Menial jobs such as that of cashier at McDonalds earn near $20 per hour.  Oil and gas workers are at near $100,000 per year.
  • A tribute goes out to those people moving from say Cleveland to North Dakota in search of work.  Though disruptive on many levels, there is something noteworthy and patriotic about people seeking out and making a long-distance move, particularly to a non-weather friendly region, in order to get off of unemployment and into a good paying job. Based on a few anecdotal stories from local REALTORS®, the new arrivals into the northern plains are said to be liking it as a good place to raise family.

Lawrence Yun, Chief Economist

Lawrence Yun is Chief Economist and Senior Vice President of Research at NAR. He directs research activity for the association and regularly provides commentary on real estate market trends for its 1 million REALTOR® members.

More Posts

Comments
  1. Mari

    Peoria, IL or Peoria, AZ??