Virginia’s adding jobs, and that’s good for the Commonwealth’s housing markets.
According to data released this week by the Virginia Employment Commission, from March to April the state’s unemployment rate dropped almost a full point to a reading of 6.7 percent. Even better: All 11 Virginia metro areas saw a decline in their regional unemployment rate.
Home prices in the Commonwealth are being dragged down by the foreclosure crisis, which is now being perpetuated by widespread joblessness created by the global recession. Experts agree that the housing market will stabilize and home values will increase as more people find jobs.
By comparison, the national unemployment rate is 9.7 percent.
Read more about Virginia’s employment numbers:
- Virginia Business
- Virginian Pilot (Hampton Roads)
- Register Bee (Danville)
- Free Lance Star (Fredericksburg)
- Times-Dispatch (Richmond)