In fact, local economic conditions, especially the jobs market, are expected to play an increasingly important role in the housing recovery, according to Fannie Mae. It can be a virtuous cycle, as housing demand spurs construction -- and more jobs.
In recent months the housing market has returned to contributing to economic growth, with home building alone responsible for 20% of GDP growth in the last six quarters, according to U.S. News World & Report
Here's a look at the employment conditions in some of the hottest housing markets.
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One strong indicator that your local real estate market is alive and kicking is a strong job market, according to . The logic is simple: The more people are being hired, the greater the likelihood that they’ll be pledging some of their wages towards purchasing a home.