Although the slight increase of nationwide jobs in 2010 may have some believing there is light at the end of the tunnel, the president of Local Market Monitor said this might not directly indicate an end to the real estate market recession. “All markets are not created equal,” said Ingo Winzer, president of the Cary, N.C.-based home-price forecasting firm, in an economic commentary on Friday. During 2010, there was a 1% increase in jobs, compared to the 3% decrease in 2009. But individual markets saw significant gains or losses. Odessa, Texas, for example, had a 5% increase in jobs last year, but Yuma, Ariz., had a 4% decrease. U.S. markets with strong job growth include Bethesda, Md.; Dallas, Raleigh, N.C.; Washington, D.C.; Nashville, Tenn.; Orlando, Fla.; Pittsburgh, Penn.; Milwaukee and San Jose, Calif. “Not surprisingly, home prices have bottomed out in the markets with strong job growth, with the large exception of Orlando, and we expect modest price increases in the next year,” Winzer said. Some major markets with continuing job losses include Sacramento, Calif.; Tucson, Ariz.; Camden and Newark, N.J.; Memphis, Tenn.; and Las Vegas. Nationwide, the U.S. economy added 216,000 nonfarm payroll jobs in March and unemployment inched down to 8.8%, the Bureau of Labor Statistics said Friday. Write to Shaina Zucker.
Most Popular Articles
Latest Articles
Keys to the housing market for the rest of 2026
The second half of 2026 hinges on whether demand stays positive with mortgage rates near 6.60% and tighter comps from July onward.
-
What a 50-year-old letter says about accountability in homebuilding
-
Four rules for underwriting secondary Texas markets in a slower cycle
-
ICE executives detail AI cybersecurity efforts through Project Glasswing
-
Home flipping slowed in early 2026 but investors saw returns tick up
-
Aging in place is reshaping housing demand — and most homes aren’t ready