WASHINGTON (MarketWatch) — A new study released Wednesday finds that home building is trailing jobs growth in nearly two-thirds of metropolitan areas. The National Association of Realtors looked at job creation in 146 metro areas from 2012 to 2014 relative to single-family and multifamily housing starts over the same period. Historically, the average ratio for the annual change in total workers to total permits is 1.2 for all housing types. The NAR found 63% of measured markets had a ratio above 1.2 and 72% had a ratio above 1.6, which indicates inadequate new construction, the trade group said.
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