If You Need a Home in North Dakota…Good Luck

by
February 22, 2014

It’s still a seller’s housing market, and that’s particularly true in North Dakota.

People are flocking to the state to take advantage of its strong energy economy, and the housing market doesn’t have the capacity to shelter the influx.

“It’s not just oil. I’ve been helping people find homes who have been hired in education, technology and agriculture. I’ve literally found homes for people who are moving from all around the country and world,” says John Knosalla, a real estate professional in the state’s Fargo- Moorhead area.

North Dakota didn’t take the hit that most states took in the aftermath of the housing bubble burst. Its unemployment rate never climbed above 4.2% in the years following the 2007 financial crash, and in December 2013 it had the lowest employment rate in the country, at 2.6%. In fact, the state has been home to the most jobs created in the country for five consecutive years, according to the most recent Gallup Job Creation Index.

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