Strengthening Job Market Supports Growing Housing Market in Orlando
It is no surprise that the job market directly affects the strength of the housing market. As individuals feel more secure in their jobs, their confidence in purchasing a home increases. For Orlando residents, this is fantastic news, as the popular Florida locale was recently named one of the best cities to live for real estate and employment.
Based on short-, medium- and long-term job creation since 2002, as well as momentum, Forbes recently compiled its list of The Best Big Cities for Jobs 2014. In ranking the 66 large Metro Statistical Areas (MSAs) which have more than 450,000 jobs, Forbes listed Orlando-Kissimmee-Sanford, Florida as the No. 8 best city in the US for a job. The job market in Orlando grew 3.3 percent in 2013 reaching 1.1 million jobs. From 2008 to 2013, the Orlando area saw a job growth of 4.7 percent. This is a powerful comeback for Orlando, which rose 23-places on this annual list.
The flourishing job market is great news for the Orlando real estate market, which has also experienced steady improvement. Housingwire recently released its list of The 15 Best and 15 Worst Performing Housing Markets. Orlando was ranked No. 13 on the list of the best performing housing markets in the US. In the first quarter of 2014, prices in the Orlando housing market were up 1.7 percent, an increase of 14.8 percent year-over-year.
As a result of the strengthening economy and home prices, the housing market is stabilizing and returning to “normal.” For home buyers, that means NOW is an excellent time to purchase a new home. We currently have beautiful homes available in three metro Orlando communities: Deer Creek in St. Cloud (just ONE home remains), Stonewood Manor in Lady Lake and Whitemarsh in Leesburg.
With affordable pricing available from the mid-$100,000s, buyers have the opportunity to build the home of their dreams with more than 30 stylish home designs and hundreds of design options available in the Highland Homes Personal Selection Studio. Plus, to make purchasing a home even more affordable, qualified buyers can purchase their new home in Orlando with just $99 down.
Orlando has long been a destination for tourists with its world-class attractions, but there has never been a better time to call “The City Beautiful” home. For more information on our available new homes in and around Orlando, Florida, visit the Highland Homes website today.