Nuances Begin to Distinguish the Markets
John Burns Real Estate
By John Burns
February 4, 2011
Nuances Begin to Distinguish the Markets
John Burns
CEO
We are seeing nuances emerge that will separate the economic health and recovery of the individual markets:
- Regional Job Growth: Washington DC, the big Texas metros, Phoenix and Orlando lead the way in job growth. Chicago, Las Vegas and Riverside-San Bernardino continue to shed jobs.
- Investor Activity: More than one-third of all sales are going to investors in former bubble markets of Atlanta, Las Vegas, Phoenix and Orlando. These investors are generally helping these markets because they absorb distressed inventory, put very little debt on the property, and are increasingly renting the homes out.
- Months of Supply: The number of homes on the market generally improves the further West you go. The Southeast averages 16 months of supply, Florida averages 12 months, Texas averages 9 months and California averages 5 months. For a complete breakdown of this data and more, email Holly or call 949-870-1211 about becoming a client.
While most of the country anxiously waits for the kick-off to Spring selling season, we note that peak season has already begun in some “snow-bird’ markets. Visit our new Housing Dimensions blog for some of our team’s takeaways on activity in Mexico and Florida.
(c) John Burns Real Estate
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