Home | Newsletter | Advertise

Job Growth Driving Rising Home Prices

  • May 7th 2013

by Shilpi Paul

✉️ Want to forward this article? Click here.

Job Growth Driving Rising Home Prices: Figure 1

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: asking prices, housing prices, trulia trends

This article originally published at https://dc.urbanturf.com/articles/blog/trulia_job_growth_driving_rising_home_prices/7031.

Pipeline: New Condos & Apartments Coming to the DC Area

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. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse