Newly released statistics from the U.S. Bureau of Labor and Statistics show that Texas tops the list of states successfully bouncing back and regaining jobs lost during the height of the recession.
With a gain of 410,400 non-farm jobs between May 2007 and May 2012, Texas is one of only nine states and the District of Columbia to have achieved pre-recession job levels. What does this mean for the real estate market? Well, without a doubt, statistics like these paint an optimistic picture. More jobs can mean more qualified buyers and fewer distressed property sales. And job growth is a self-perpetuating cycle; the more jobs are gained, the more other employers are attracted to an area.
Perhaps the best news for Texas--the race to grow jobs wasn't even a close one. New York earned its second-place standing with 88,600 net jobs added since May 2007, less than one-quarter of the number of jobs added in Texas, followed by North Dakota; Washington, D.C.; Louisiana; Oklahoma; Alaska; Nebraska; South Dakota; and West Virginia. The state with the largest job shortfall is California, having lost 891,200 jobs since the start of the recession.
Positive economic growth can create opportunities in real estate. If you would like to discuss real estate investment opportunities that may be available to you, or if you've been waiting to make a personal real estate change, contact the Claus Team by phone at 210.566.6355 and speak with a Realtor who can help guide you in determining if now is the right time for you to enter the market.
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