Economic boom in Rochester - KTTC Rochester, Austin, Mason City News, Weather and Sports

Economic boom in Rochester

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ROCHESTER, Minn. (KTTC) -- The newest housing and employment numbers show a major economic change for the better.

The 7.5 percent increase in home sales since 2011 signals an improving economy.

"In terms of production more units are selling," said Duane Sauke, RE/MAX broker. "In terms of price it may not be that the house itself is worth more but what's happening is that the public is deciding to buy a little more expensive house."

Olmsted County reported more than 79,000 jobs in July, topping a previous high set in 2007.

"As people see more people getting job that increases their hope in finding jobs and determination to do job search," said Becky Thofson of the WorkForce Center.

The Minnesota WorkForce Center in Rochester says more jobs are available in retail, technology or health care. With higher employment comes the demand for housing.

The number of building permits in Rochester for businesses or homes has more than tripled from a year ago, and with construction popping up all over the place, there's a need for positions to be filled.

 

 

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