DC recovering well from recession
The ability for a metro to recover from an economic downturn is significant, as the recession experienced in the late 2000s is a strong indicator of a region's ability to withstand disturbances and maintain a healthy economy. Both of these factors contribute substantially to a city keeping high property values and typically make investing in real estate there a sound strategy. In this regard, people who buy one of the homes for sale in Washington, DC, could be in good shape - the District is one of the few cities to have fully recovered from the recent recession.
Along with Houston, Texas, Washington, DC, is the only city in the country to have regained all the jobs it lost during the downturn, according to SeekingAlpha. In fact, it has done more than that - it has recovered 124 percent of its jobs. Aside from Houston, no other major metro has approached this figure.
Because there is a strong link between low unemployment and new residents, it shouldn't be surprising to learn that DC has fared well in terms of migration, as well as new jobs. With the strong employment market, the District has seen a huge influx of new residents.
In the past five years, the city has experienced a net migration of 181,100 of new occupants, the news source reports. During a time when many people are moving away from large metros such as Los Angeles and Chicago, this figure is a strong gauge of the city's enduring popularity and sturdy economic and employment backbone.
These two numbers - the returned jobs and new residents - should be heartening for people considering purchasing real estate in Washington, DC. The knowledge that the metro outperformed almost all others in retaining or replacing jobs as well as attracting new people to the city demonstrates its resilience. When looking to buy a home, considering the relative strength and attractiveness of the area is one of the best ways to evaluate the soundness of an investment. Few American metros are stronger right now than DC.
Take a look at some of the houses for sale in Washington, DC, to see if you can find your dream home. As new residents pour in to fill some of the new jobs continually cropping up, now might be your best chance to get a great bargain.