The robust rebound in the housing market has had a favorable boost to the Nations economy over the past year. 2013, as it currently stands, is already off to a great start in the real estate industry with bold predictions already being made for how well the market should fair as we move forward. The economy and job market should both grow due to the surging of domestic oil-and-gas production, deferred corporate capital investment ramping up, and due to the recovery in the manufacturing industry.
The link that can be found at the base of this post features a video interview with Liz Ann Sonders, the Chief Investment Strategist at Charles Schwab, who shares some fascinating points pertinent to the housing market. Theres a lot of amazement that the market has done so well. When referring to the NAHB/Wells Fargo Housing Market Index of homebuilder sentiment where the index is 15 months into a sharp rebound which relates to increased housing-related jobs, Sonders went on to state, ...a 15-month lag, has a very high correlation to the unemployment rate.
What was also highlighted by Sonders was a more quantitative measurement of just how much the job sector should evolve over the next eleven months of 2013. Some 700,000 to 750,000 job positions in all facets related to the housing industry should be produced not just for this year, but on an annual basis for years to come. This translates roughly to 50,000 more jobs per month than what we were already realizing last year in the housing-related workforce. Such estimates are signs of a year defined not only a continuously recovering real estate market, but a year that will also be beneficial to all of those who make their livelihood in some way due to the housing market.
More Information: Yahoo Finance