We've just released the first quarter edition of our Market Snapshot reports.  Market Snapshots are concise 3-page reports with analysis written by one of our market experts, with a summary of market strengths and weaknesses, projections of the key economic and housing market statistics, top employers and stock performers, and much more.  The Market Snapshot is a fast and convenient way to get up to speed and what is going on in the local economy and housing market.
 

This week's data feature shows a glimpse at one of the most vital housing demand indicators:  jobs.  Employment growth is historically one of the most important statistics to keep tabs on when it comes to determining the future of housing.  Of the Top 75 markets we examined, only 2 had year over year job growth as of the first quarter.

Nationally things seem to have gotten a bit better since the end of the first quarter, but substantial challenges remain.  Despite adding over half a million jobs in the past three months, the nation’s unemployment rate is still sitting at 9.9%.  The number of unemployed people who previously exited the job market are now returning as jobs become more abundant which will likely cause the unemployment rate to rise to 10% and beyond in the coming months.

Until potential home buyers feel comfortable about their jobs, or in their prospect of finding a job if they don't have one, then it will be difficult for them to consider a major purchase like a home.  That's why it's vital for those directly or indirectly in the homebuilding industry to keep close tabs on local employment trends in order to determine where and when a recovery is most likely to pick up speed.

While jobs are important, our Market Snapshots cover much more than just employment information.  From residential permit supply and housing affordability to fresh expert analysis on market strengths and concerns, the Market Snapshot provides a time-efficient and informative source to keep you up to date on the most important statistics for each market area.

For more information on Market Snapshots, or to purchase or view a sample, click here.