- Employment growth has been positive in all but 24 or of the 164 markets tracked by NAR Research over the 4-quarter period ending in March. This trend indicates that 85% of markets experienced an improvement in employment, which is important for the confidence of potential homebuyers.
- The strongest gains were concentrated in markets across Texas, but there have also been gains across the central south and the mountain states. A notable number of markets that experienced a decline in employment over this period were concentrated in the Northeast.
- Additional information on local market trends is available in the Local Market Reports for the 1st quarter.
By Lawrence Yun and Ken Fears
- The New York Times reviewed a new research paper by authors from Dartmouth and the University of Warwick in England that implies a rise in the homeownership rate is bad for the economy because fast rising homeownership was associated with much higher unemployment rate. The paper gave examples of several southern states with high unemployment rates as evidence.
- Economic vitality should be assessed not by the unemployment rate but by job growth. A state may have a very low unemployment rate yet have no job growth. What is needed for economic and income growth, in short an improving standard of living, is job growth – the variable this critique focuses on.
- Continue reading »