Only four states and Washington, D.C., registered more new-home closings last year compared with 2009, according to the independent research firm Housing Intelligence.
Hawaii reported a 26% jump in new-home volume last year, followed by North Dakota and Wyoming, which reported 21% and 11% gains in new-home closings, according to the Hanley-Wood LLC unit. Washington, D.C., came in fourth with a 10% jump, followed by Delaware, up 2%.
The tie that binds these markets? The top four have unemployment rates that are significantly lower than the national average. "It's certainly no surprise that states with healthier labor markets have healthier housing markets," Housing Intelligence said. "But it underscores the vital need for better job growth elsewhere across the nation."
