Job Growth Driving Rising Home Prices

Asking prices for homes across the country are now 8.3 percent higher than they were a year ago, reported Trulia on Tuesday. Though 95 out of 100 cities experienced gains, the areas with the highest price growth are those with strong job markets: nine out of the 10 cities with the highest price gains had above-average job growth this year.
“Jobs and housing demand go hand in hand,” said Trulia’s Chief Economist Jed Kolko. “When job growth attracts newcomers to an area, those newcomers need a roof over their heads. Plus, when people find jobs – even if they don’t move to a new city – they’ll often look for their own place to rent or buy instead of staying with roommates or parents.
In the DC area, home prices rose 8 percent annually and 4.7 percent quarter-over-quarter.
For more stats and analysis, click here.
A full explanation of Trulia’s methodology can be found here, but in short, the Price and Rent Monitors compare current asking prices and asking rents year-over-year and quarter-over-quarter, adjusting for seasonal swings.
See other articles related to: trulia trends, housing prices, asking prices
This article originally published at http://dc.urbanturf.com/articles/blog/trulia_job_growth_driving_rising_home_prices/7031
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »

To illustrate the rise in prices, UrbanTurf analyzed four charts that show the path o... read »

The hyper-competitive, ever-shifting conditions of the DC-area housing market are cha... read »

Since the last time UrbanTurf took a look at the South Capitol Street corridor, over ... read »

A new condominium and townhome community called Venue will debut the best views and m... read »
- A Virtual Tour of More Than 35 DC-Area Developments
- The 9-Year Trajectory of DC Home Prices in Four Charts
- The Price is Right? How Home Pricing and Buying Strategies Are Changing in DC's Competitive Market
- 1,900 Units Down, 1,900 to Go: The Status of the South Capitol Street Pipeline
- Old Town's Newest Riverside Development Is Already Over 50% Sold
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!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro