California's Mortgage Loan Market
The California housing market, while cooling
down somewhat over the past year, still helped drive job growth in
the state. Much of this growth was in the mortgage industry, as
well as the construction industry. In fact, real estate agencies
and mortgage loan companies added nearly 1500 jobs in November of
2005. However, in San Diego county, the mortgage industry lost
workers as financial and loan companies are finding it difficult
to maintain the job levels that existed during the boom market of
the past five years. This is a trend that many analysts say will
continue, especially in once red hot real estate markets such as
San Diego and Phoenix.
California Real Estate Market
Many economic analysts, while hopeful about the
job growth in November, are worried about the real estate sector.
If real estate companies and construction companies continue to
shed jobs over the coming year, it will certainly have an effect
on the number of jobs in the state, as well as the strength of the
economy.
San Diego's Previously Strong Market
San Diego’s strong market can be accredited to
the area’s recent trends, including job growth, low vacancy rates,
and a decrease in apartment supply.
California's
Housing Market Helps Home Mortgage Loan Industry