The housing market in the US has continued to recover and gain momentum from the great recession that this industry has suffered. As a home builder, you can greatly benefit with this recent development.
Those that recovered the most came from the market that suffered the biggest decline. The market that recovered quickly had the best job growth and had a growing population. In the US, the Southwest region is the strongest performing market. The Southwest’s economy is robust and its population growth is steadily increasing which drove the housing demand up. The Southeast and West are also showing promises as these regions are likewise rapidly improving.
Here are the top three markets in the US that have improved the most.
The housing market in Denver is the number one performing in the United States. The home price growth for a year on year basis is 9.2 percent. The employment in Denver increased tremendously at an all time high- 4.3 percent. Its population is also increasing with a pace that is almost thrice than the national average. In effect, the home prices in Denver also escalated.
2. San Antonio
The strengthened economy of San Antonio along with its growing population has given a rise on the sales in the county by over 5.5 percent from last year. The home prices are also at their peak- 4.3 percent. Last year, it was reported that the population grew by 2 percent. This percentage was the fastest rate in three years. Its employment rate has also improved with around 8,000 jobs added in the last two months. The unemployment rate is very low measuring only to 4 percent in January this year. San Antonio’s economy remain to be strong as it successfully diversified across the different industry sectors which helped lessen the impact of declining prices of oil in the area.
Nashville is a place driven by excellent health services, tourism and educational system. Its economy continues to blossom as unemployment rate in the area continues to slide down. Its population also has accelerated in the last four years. The housing market industry in Nashville continued to maintain a strong performance. The sales are up by 4 percent from last year.