Auction.com Executive Vice President Rick Sharga says, “As the U.S. housing market has continued to recover from the Great Recession, we’ve seen significant regional variances in terms of both price appreciation and sales volume. Earlier in the recovery, most of the growth came from markets that had suffered the biggest declines during the housing bust, but what we’re seeing today is more in line with fundamental economic trends: markets with the best job growth and population growth are recovering most quickly.”
Denver tops the list with a 9.2 percent home price growth year-over year and an increase in employment of 4.3 percent in one year. The number two spot is claimed by San Antonio, with its four percent unemployment rate, having added 8,000 jobs in the last two months and a population growth of two percent in 2014.
The third position belongs to Nashville where employment has grown in 12 of the previous 14 months, home sales have risen four percent in the last 12 months and home prices have risen 6.2 percent in the last year. Number four is Fort Lauderdale, which has seen employment grow 4.2 percent over the past year, one of the fastest growth rates of major metro areas, and median home prices have risen 7.8 percent during the last 12 months.
Rounding out the top five is Dallas, having added 20,000 new jobs in the past two months—total employment has increased 4.5 percent in the last year—and home sales are at their highest level in seven years. Home prices have risen 26.4 percent in three years, 7.3 percent in the last year alone. It should be noted that two of the top five are in Texas, which has consistently been the top shipment state for manufactured homes since the production recovery began in August, 2011. ##
(Graphic credit: auction.com/housingwire)
