There is much debate over the recovery status of the housing market. Many US regions have reported increasing home sales and recent earnings reports from major home improvement stores, Lowe's and Home Depot, suggest that the market may be picking up. Today, we wanted to look at hiring demand in the real estate industry to see if jobs are also increasing. In October, there were 35,600 jobs available in the real estate industry, a 16% year-over-year increase. This falls just short of the 4-year high seen in June of this year, when there were about 36,700 jobs available online. Based on the trend line below, it seems like hiring has been growing strongly this year.
Hiring Demand in the Real Estate Sector – 4 Year Hiring Trend
Within the real estate sector, Lessors of Residential Buildings and Dwellings had the highest number of job ads. In addition, they also experienced a 24% year-over-year growth compared to October 2012. Offices of Real Estate Appraisers had the greatest increase in hiring demand from last year, with 83% more jobs available in October 2013 versus the same time period in 2012. Only Residential Property Managers declined, down 47% from October 2012.
|Industry||YOY % Change|
|Lessors of Residential Buildings and Dwellings||24.80%|
|Offices of Real Estate Agents and Brokers||10.40%|
|Lessors of Nonresidential Buildings (except Miniwarehouses)||4.20%|
|Lessors of Other Real Estate Property||21.40%|
|Offices of Real Estate Appraisers||83.80%|
|Other Activities Related to Real Estate||44.70%|
|Residential Property Managers||-47.10%|
Some of the areas that currently have the most job ads are New York City, Detroit, Los Angeles, Washington (DC), and Chicago. Despite being one of the cities with the most demand, Chicago actually declined 12% in demand during October. Detroit grew the most of these locations, up 30% from last year.
Real Estate Hiring Demand in Major Metropolitan Areas
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