Jobs = People = Houses -- Sounds Like a Winning Formula for D.C. Region

By
Real Estate Agent with RE/MAX Allegiance, Managing Broker/Branch Vice President

EquationWhile national employment numbers that were released yesterday were disappointing and battered the stock market, things are different here in the D.C. area.  According to data released this past week, unemployment in the Washington area dropped substantially in April to an unemployment rate of 5.9% compared with 6.6% in March.

 

According to Stephen Fuller, director of the Center for Regional Analysis at George Mason University, "the losses are shrinking, and we're getting more gains."  The Washington Post reported that while the federal government and Washington area health and education sectors continued hiring throughout the recession, in April 2010, retail and hospitality sectors also added jobs, as well as nonprofit associations, and professional and business services.

 

The net job gain in the D.C. area is the highest in the United States.

 

More jobs = More People = More House Sales -- This sounds like a winning formula for the D.C. region and the D.C.'s economy.

Unlike the mathematics pictured above, this is a simple equation!

While the stock market may continue to be a bumpy ride, the D.C. area real estate market has continued to stabilize.  
Contact me at 703-626-0715 or brian@brianblock.com for a free analysis of your real estate goals.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
District of Columbia District of Columbia County Washington
Groups:
Realtors®
VIRGINIA
RE/MAX Active Rain Bloggers
Washington, DC Mortgage and Real Estate Issues
POSITIVE ATTITUDE for the Weary Soul
Tags:
housing market trends
unemployment rates
northern virginia job growth
jobs in washington dc
dc job market
dc area unemployment rate

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
1,342,017
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Brian, I heard about this yesterday. Looks like thing are looking up in our region. Thanks.

Jun 05, 2010 02:57 AM #1
Ambassador
769,457
The Somers Team
The Somers Team at RE/MAX Access - Philadelphia, PA
Real People. Real Dreams. Real Estate.

Brian - Great news for Wash DC indeed !  Awesome and something to keep an eye on.  I have a feeling that the numbers are not as bad as the media makes them out to be and now may set the stage for next month to exceed expectations.  One silver lining with the market falling 3 percent yesterday is that mortgage rates went lower too.  ~ Chris

Jun 05, 2010 03:09 AM #2
Rainmaker
624,191
Maria Morton
Chartwell Kansas City Realty - Kansas City, MO
Kansas City Real Estate 816-560-3758

Brian, thanks for the update on unemployment in the DC area! BTW - love the photo of math formulas.

Jun 05, 2010 04:52 AM #3
Rainmaker
1,787,611
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

And I know to whom all those home inspections ought to go!

Jun 06, 2010 10:53 AM #4
Ambassador
2,073,804
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Brian - I also heard about this and it is indeed good news for the DC area!

Jun 10, 2010 03:53 AM #5
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
693,708

Brian Block

Northern Virginia & D.C. Real Estate
Ask me a question
*
*
*
*
Spam prevention

Additional Information