Job Market Spurs US Housing Market Forward

Job growth in 2015 certainly helped spur the housing market forward. Most experts believe 2016 will follow the pattern, with job creation leading to increased activity in the United States Housing Market. Most believe the two sectors are linked and that as people find new, higher paying jobs, home values and activity will both rise with it.

The job market created 2.6 million new jobs in 2015. Unemployment hit 5% in 2015, down from 5.8% in 2014. Urban centers and high tech hubs experienced the most growth in both job creation and housing activity. Places like San Francisco, Denver and Seatlle all had huge employment gains. Low and behold, they are also some of the nation’s busiest and most expensive housing markets.

The relationship between job growth and housing market growth seems pretty apparent. As great jobs come onto the market, new workers will need to find places to live. The influx of workers leads to increased activity as well as increased price in these hot markets.

Bozeman, though certainly not a city, has experienced huge real estate growth recently. Guess what? The Gallatin County remains one of the top counties in the state for high wages and low unemployment. Montana had its lowest unemployment rate since 2007. And, it seems like no coincidence that Bozeman is also considered the tech capital of Montana and that it also has the fastest growing economy in Montana.

The improved economy has fueled a rise in real estate transaction across the nation. Bozeman’s housing market activity has increased consistently year over year, showing that Bozeman is also falling in line with patterns established by the national housing market.

 

Source: http://www.realtor.com/news/trends/housing-industry-rises-with-job-market/

 

 

 

Hart Real Estate Solutions

www.hart.realtor

406.585.0000

Hart Real Estate Solutions Bozeman Montana


  

 

Comment balloon 1 commentHart Real Estate Solutions • March 25 2016 09:27AM
Job Market Spurs US Housing Market Forward
share
Job growth in 2015 certainly helped spur the housing market forward. Most experts believe 2016 will follow the pattern, with job creation leading to increased activity in the United States Housing Market. Most believe the two sectors are linked and… more
Land Trust Donates to Future Bozeman Park
share
The Trust for Public Land bought a 5-acre piece of land from the Boys and Girls Club of Southwest Montana. The parcel adjoins the to-be-built Story Mill Community Park to the Northeast of town. The Trust for Public Land intends to donate the… more
Bozeman Planning for Growth in 2016
share
Bozeman officials made it clear they are planning for growth in 2016 when they outlined their goals and hope for the town for the coming year. With the fastest growing economy in Montana and part of the fastest growing county in the state… more
Bridger Alternative Program Now Montana’s First Charter School
share
In late February, the Bozeman School Board agreed unanimously to turn Bridger Alternative into Montana’s first Charter School. The school had originally been founded as an alternative program within Bozeman High School to help at risk teens… more
For Sale/For Rent Properties To Improve Affordability in Bozeman
share
Over the past few months, the City of Bozeman and local builders alike have worked hard to continue making homes more affordable in Bozeman. For Rent Bozeman has partnered with developers GMD Development from Seattle and Homeward out of Missoula… more