While housing seems to remain in decent demand throughout the country, an overall recovery seems to be pretty uneven, depending on the location.
Today an NBC did a feature on one of their cable news shows about the healthiest markets in the United States. One of the healthiest overall states is indeed, yours truly, Florida.
“Florida is recovering very nicely from an economic standpoint,” said Rick Sharga, chief marketing officer at TenX. “We’ve seen unemployment numbers drop pretty dramatically there. We’ve seen job growth and wage growth stick for a few years now, and we’ve seen a very steady increase in both the sales of homes and home prices.”
So where are all the people moving to Florida going to live? Well likely they are going to live right here, in Pasco County. Tampabay.com did an article last week saying just that. The article spoke of the “changing demographics of Pasco County. People are now choosing to live in Pasco, where, in some location, particularly along the State Road 54 corridor, higher-end housing is the new norm, catering to an expanding and educated workforce.
“This isn’t the Pasco County we knew 10 years ago,” said J.D. Porter of Wiregrass Ranch.
“Your higher-wage earners don’t want to lose time stuck in traffic,” said Ryan, noting that the vice president of Tru Simulation + Training, a company expanding in Lutz, purchased a home in Starkey Ranch because it is a 10-minute drive to work.
Healthiest housing markets
Unhealthiest housing markets
Northern New Jersey
Central New Jersey
Long Island, New York
Unfortunately, not every city can be as good as Tampa. New Jersey has hit the bottom of the list. Home prices in New Jersey are very high and job growth and opportunity are not so good. LA and San Fran are having their own problems. Prices are extremely high and home inventory so weak that the potential for both sales and price growth are low.
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