What drives housing markets? I would have to say, confidence. What drives confidence? Income. How do you get an income? By having a job. It is clear that the best indicator for a housing recovery is jobs. According to Colorado Realtor Magazine, many of the indicators are moving in the right direction. The Census Bureau shows that Colorado has seen a net increase in population of over 31,000 people, and at the same time exceeded expectations when it comes to the jobs numbers. Colorado was expected to have 8.4% unemployment at the end of 2011, down from 8.7%. As it turned out, as of January 1, 2012, unemployment was actually at 8% even. (The nation’s unemployment rate was at 8.5%.) So, the increase in population along with the decrease in unemployment indicates apositive jobs situation, don’t you think?
Jobs are here, home prices are down, and this State is truly beautiful. With all of those factors on it’s side, you got to believe that Colorado is primed for the 2012 recovery.
Taken by a friend in the lovely State of Colorado. Thanks, Jennifer.
This one I took in January 2012.