Trulia recently reviewed the largest housing markets in the United States based on three major factors: job growth, vacancy rates, and foreclosure inventory. Trulia determined these characteristics combined best determine how healthy the housing market is for a city.
To make the top 10 list, each cities housing market had to have high job growth, low vacancy rates, and low foreclosure inventory. The job growth was calculated for over a year, up through October 2012. Vacancy rates were provided by RealtyTrac, and were tracked through November 2012. Foreclosures per 1,000 units were also accounted for throughout October 2012. According to Trulia, they also provided “year-over-year change in home prices through November, year-over-year change in asking price through November, year-to-date construction permits per 1,000 units through October and the peak-to-trough decline in home prices during the recession.”
You may realize some major cities are noticeably absent, this is explained by Trulia Chief Economist Jed Kolko. He states “While housing markets have increased in the last year, many of the increases are rebound following big declines in home value.”
Here are the top 10 cities with the healthiest housing markets, for 2013:
10. Louisville, Ky.-Ind. Job growth: 2.7% Vacancy rate: 3.0% Construction permits: 5.8 per 1,000 homes
9. Fort Worth, Tex. Job growth: 2.6% Vacancy rate: 3.0% Construction permits: 8.1 per 1,000 homes
8. Peabody, Mass. Job growth: 2.5% Vacancy rate: 2.4% Construction permits: 2.5 per 1,000 homes
7. Omaha, Neb.-Iowa Job growth: 2.5% Vacancy rate: 3.3% Construction permits: 8.7 per 1,000 homes
6. Seattle, Wash. Job growth: 3.1% Vacancy rate:2.4% Construction permits: 11.1 per 1,000 homes
5. Austin, Tex. Job growth: 3.5% Vacancy rate: 1.2% Construction permits: 21.5 per 1,000 homes
4. San Antonio, Texas Job growth: 2.7% Vacancy rate: 2.8% Construction permits: 8.5 per 1,000 homes
3. Bethesda-Rockville-Frederick, Md. Job growth: 2.8% Vacancy rate: 1.2% Construction permits: 6.7 per 1,000 homes
2. San Francisco, Calif. Job growth: 3.4% Vacancy rate: 1.7% Construction permits: 4.6 per 1,000 homes
1. Houston, Tex. Job growth: 3.6% Vacancy rate: 3.0% Construction permits: 15.4 per 1,000 homesMoving to one of these cities? Daniel’s Moving and Storage can get you there. Check out our website for more information on residential and interstate moving.