Housing Market is 52% Back to Normal, Reflecting Job Gains on ArchitectureCrossing.com

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Based on December housing data, the Trulia Housing Barometer found that the U.S. housing market is 52 percent of the way back to its normal, pre-recession levels. Trulia’s latest report mirrors strong employment growth in the housing sector, based on jobs data from ArchitectureCrossing.com

As of January 25, the site listed 2,261 jobs in architecture across the country.

January 26, 2013 – In its monthly assessment of the housing market, the Trulia Housing Barometer found that December’s numbers indicate the U.S. housing market is 52 percent back to its pre-recession levels. The industry’s recovery corresponds with rapid employment growth in the real estate and construction sectors, based on jobs data from ArchitectureCrossing.com.

In yet another signal that the housing sector is experiencing solid momentum, the Trulia Housing Barometer for December found that the housing market is now 52 percent back to normal. It was another solid month of growth, according to the real estate forecaster, which analyzes real estate data and market trends.Based on the average of three market indicators, including construction starts, existing home sales, and the delinquency-plus-foreclosure rate, Trulia reported that the housing market is over half-way back to its pre-bubble, “normal” levels. In its monthly assessment, the company noted that construction starts were at a 54-month high in December, the delinquency and foreclosure rates held steady at 10.6 percent, and that in spite of a slight decline, home sales were still at its second-highest levels since November 2009. Taken together, the U.S. housing market is currently twice as healthy as it was just a year ago. The report supported the general consensus that the housing market is more than on the mend.

The Trulia Housing Barometer, which is released each month, tracks the speed at which the housing sector is moving back to “normal.” Trulia compares monthly data for housing starts, delinquency and foreclosure rates, and home sales to both the lowest numbers on record, along with the “pre-bubble” numbers in each respective category. Their monthly report gauges not only the current state of the housing market, but allows for comparison with pre-recession and pre-housing bubble figures.

Perhaps the best news of the nascent housing recovery are the jobs that are coming back to the long-beleaguered real estate sector. ArchitectureCrossing.com, a leading job site for architecture jobs, confirms the strong employment growth on its site that has been a direct result of the rapidly expanding housing market. As of January 25, the site listed 2,261 jobs in architecture across the country. In recent months, there has been particular demand for architects with experience in healthcare and corporate architectural design, particularly as hospitals expand their services under Obamacare and the commercial sector continues to recover.

“The latest report from Trulia only confirms what so many of us already see regarding the improvement of the housing market,” notes Harrison Barnes, CEO of ArchitectureCrossing.com. “After so many years of a down market, it is certainly a relief to see solid employment growth again in the real estate and housing sectors.”

About ArchitectureCrossing

ArchitectureCrossing.com is a job search site based in Pasadena, CA. It is a part of the Employment Research Institute and owned by A. Harrison Barnes.

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Andrew Ostler
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