The Charleston Metro Chamber of Commerce has estimated that more than 20,000 new jobs will be created in the region in the next two years according to the Post and Courier. This compares with 9,000 jobs created in the region in 2015.
“Many of the new jobs will be construction related,” say economists involved in the forecast, as Volvo and Mercedes Benz each build $500 million plants in the region. Boeing is also increasing jobs related to building with its 787 Dreamliner and the new 787-10 model.
“The overall job outlook is bullish, the chamber predicts unemployment will dip below 5% during the period” according to Mark Vitner , economist with Wells Fargo bank.
“Charleston area jobs are expected to grow in every segment – leisure and hospitality, education and healthcare, information, professional and business services and manufacturing,” according to the Post and Courier. The Post and Courier also predicts there should be enough work for everyone who moves here, with jobs growing faster than the labor force, which produces growth in other segments.
The Post and Courier says real estate sales are expected to climb 6% in 2016 and 2017 with home prices increasing 4% this year and 2% next year . New home construction is expected to increase year-over year.
The job outlook makes the future of the overall economy of the Charleston market look outstanding and the housing market particularly strong.
If you have family, friends or if you know of someone considering buying or selling real estate, your referral would be the most appreciated compliment I could receive.
David B. Landry, Realtor
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