Bethesda’s robust employment opportunities help keep home demand high in Bethesda and Chevy Chase!
It’s no secret that a healthy job market supports a healthy real estate market, but you may not be aware of the economic strengths in the Greater D.C. area. Here is a look at the trends!
Bethesda Employment Outlook Among Best in Nation
As reported by Forbes Magazine and the Bethesda-Chevy Chase Patch, Bethesda has the lowest unemployment rate of any city in the country. Bethesda’s unemployment rate is a modest 5.2%, significantly below the current nationwide average of 7.6%.
The industries with the most job openings in Bethesda include health care, hospitality and construction. Accounting and clerical services are also in demand. Bethesda’s highly educated workforce helps attract new employers, which bodes well for continued job growth.
Bethesda and Chevy Chase Homes in Demand
USA Today recently posted an article showing the relationship between employment and home prices in 20 metro areas of the U.S. In February of 2013, the three cities with the strongest home price growth year-over-year, also had faster job growth than the national average. The DC area, while not in the top three, has posted respectable gains in both job growth and home prices.
DC Metro home prices are up an average of 6.9% from a year ago. When you break it down, Chevy Chase home prices are up an average of 18.9% from a year go, and Bethesda home prices are up by 7.7% from a year ago. Home inventories remain lean, and with demand outstripping supply, we can expect more year-over price gains as we head through the second quarter of 2013.
Your Chevy Chase Real Estate Consultant!
The demand for homes in Chevy Chase, Bethesda, and the surrounding D.C. area means that home buyers will need expert advice to succeed in our competitive markets! If you are thinking of buying or selling a home, turn to me for the professional guidance you can trust. My experience with the Chevy Chase real estate market will give you the advantage!
Contact me today for courteous, professional assistance!
Melinda Estridge
The Estridge Group-Long & Foster Real Estate, Inc.
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