Abstract

Extensive research has been undertaken on the housing market since the global financial crisis of 2008-2009, with a particular focus on the United States. Various economic factors influence the movement in housing prices and this paper explores the impact of employment changes on house prices value at the county level in the US. The Zillow Home Value Index is the dependent variable of interest while the main independent variable is the percentage change in employment. Other independent variables include the 30- year US mortgage rates, as well as the percentage change in annual payroll and population at the county level. The research uses data spanning from 2012 to 2021.