Job Growth And Wage Gains Point To A Healthy U.S. Housing Market

March 23, 2016

The end of 2015 brought with it a surprising slowdown in household growth, but that looks like it will be an exception to the rule as opposed to the rule itself. Thanks to job growth and wage gains, positive U.S. economic activity should continue to support the housing market, reports. Perhaps even better, is the fact that there is little evidence to suggest a downtown within the next year. This information comes from the Health of Housing Markets Report, which evaluates the housing health for the U.S. and 400 metropolitan statistical areas.

The report indicates that the most sustainable major housing markets in the country are Milwaukee, Louisville, Cincinnati, Pittsburgh, New York, and Philadelphia. Some areas do not have quite so optimistic an outlook, however--namely states like Texas and Louisiana that rely heavily on the oil and energy sectors for job creation. Because of the low oil prices affecting job growth in these areas, eight out of the bottom 10 metropolitan statistical areas are in these two states.

The top five metropolitan statistical areas, in order, are Dayton, Ohio, Yakima, Wash., Cleveland-Elyria, Ohio, Saginaw, Mich., and Syracuse, N.Y. The bottoms five, in order, are Houma-Thibodaux, La., Laredo, Texas, Lafayette, La., Victoria, Texas, and Austin-Round Rock, Texas.

For the full list of best and worst metropolitan statistical areas, click the link below.

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