Posts with tag 'rockford'
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What to Know Before You Buy
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Rockford Rated a Top City for Manufacturing Jobs
ROCKFORD – The Rockford metropolitan area was named one of the top 20 "Best Cities for Manufacturing Jobs" in a recent study because of the area's manufacturing employment growth. Rockford placed 19th overall and 5th in the Midwest in the NewGeography.com study, released in May. Rockford improved 9 spots from the site's 2012 study. Cities were ranked based on criteria including long-term, mid-term and short-term manufacturing job growth and momentum. "They identify those places where the market tells us the best storylines for manufacturing are being written," site editors Joel Kotkin and Michael Shires wrote in May. From 2010 through 2012, the Rockford metropolitan area added approximately 4,600 manufacturing jobs, according the U.S. Bureau of Labor Statistics. That represented a 17.4% increase in manufacturing job growth. About one in 5 Rockford-area residents work in manufacturing. "Manufacturing is the bedrock of our local economy, and we're glad to see employers r...
14
Is Rockford a Buyer's Market?
Many people are currently asking if Rockford is a buyer's market. Let's look at the numbers. Right now, a lack of new listings is driving the time it takes to sell a home to historic lows. Last year, it took nearly 10 months to sell a home in the Rockford real estate market but this past May it took less than 6 months. That's nearly 4 months less time. The last time the absorption rate was this low was in summer 2007. The Rockford market housing inventory his 1,870 homes this May, almost 30 percent less than last year at this time. At the mid-level price range, multiple offers are competing for a scant supply of homes for sale. Properties are getting asking price and then some. Prices for mid-level homes are up double digit year over year and rising at a brisk pace. One of the theories of real estate is that a six-month supply of homes is considered a balanced market. When inventory rises, buyers get the upper hand and prices turn soft; with lower supply, sellers call the sh...
12
Dickerson Nieman Named Top U.S. Power Broker
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