While the country seems to be in tentative recovery mode, with positive news about jobs and unemployment and encouraging housing indicators, a number of obvious questions remain. Which cities are recovering the fastest? How do current numbers compare to those before the crash? How does DC stack up against other major cities? A new report from The Brookings Institution provides some answers.
Brookings’ Metropolitan Policy Program just released an analysis of their MetroMonitor, a ranking that tracks the performance of economic indicators (employment rates, gross metropolitan product, housing prices, and the pace of recovery) in 100 U.S. cities.
Courtesy of The Brookings Institution
In terms of overall recovery, DC was squarely in the middle of the pack, but the city had a few highlights. Our regional unemployment level ranks 7th out of the 100 cities analyzed, at 5.5 percent, with a relatively low change in employment rate since before the crash. Housing is another strong point: we rank 15th in regards to home price increases, exhibiting a relatively high rate of change from when prices were at their lowest point.
While the numbers aren’t too dramatic, they seem to be headed in the right direction. From the report:
National economic indicators suggest that the economic recovery, though still very slow, may be picking up speed.
Along with the report, there are a few cool interactive maps comparing cities. Check them out here.
This article originally published at http://dc.urbanturf.com/articles/blog/how_well_has_dc_recovered_since_the_crash/5348
Most Popular... This Week • Last 30 Days • Ever
The planned 8-unit development would be located on K Street right along the Potomac R... read »
Landmark Theatres is in the final stages of negotiations that would have it operating... read »
The housing market last month was not as hot as September 2020, but that is probably ... read »
The next phase on the Center Block would deliver 166 apartments and 221 hotel rooms.... read »
DC's crane count still ranks as one of the highest among U.S. cities despite a declin... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
STAY DC provides rental aid and utility payment grants to at-risk District residents ... read »
The yet-to-be-built home may set a new bar for luxury in the residential real estate ... read »
Federal Realty plans to eventually file a planned unit development application for th... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro