Article source: CMDGroup
Tables 1 and 2 accompanying this Economy at a Glance compare labor markets with home prices in major U.S. and Canadian cities.
The reason for conducting this analysis can be summed up succinctly. It shows where job prospects are brightest while home ownership is cheapest.
The labor market ‘composite’ ranking has been based on an assessment of two criteria: year-over-year employment growth (from fastest to slowest) and unemployment rates (from lowest to highest).
Median or average home prices (and their year-over-year percentage changes) can be found at the web sites of the National Association of Realtors (NAR) and the Canadian Real Estate Association (CREA).
It would be interesting to draw a line connecting every city to its doppelganger in the tables, but that would yield a confusing blizzard. Therefore, only ones in support of this EAAG’s headline are shown.
From the U.S. table, it’s clear that San Jose (2) and San Francisco (5) have strong labor markets that are accompanied by high home prices – i.e., on the right side of the table, they have corresponding rankings of (1) and (2) respectively.