Job Losses Dim Home Sales In Many Cities

Here is a quick little article I found on CNNMoney I thought you might find interesting (Make sure to look at #5 on this list):

Unemployment is the biggest reason why foreclosures continue to climb and the housing market isn't recovering more quickly, analysts say.

In 13 cities, most of them in California, the unemployment rate rose above 15 percent in April. Joblessness was above 10 percent in 93 cities, according to statistics from the U.S. Bureau of Labor Statistics.

The 13 cities where unemployment is the worst are:
1. El Centro, Calif., 26.9 percent
2. Yuma, Ariz., 20.3 percent
3. Merced, Calif., 18.3 percent
4. Yuba City, Calif., 18.2 percent
5. Elkhart, Ind., 17.8 percent
6. Modesto, Calif., 16.8 percent
7. Stockton, Calif., 15.6 percent
8. Bend, Ore., 15.6 percent
9. Fresno, Calif., 15.5 percent
10. Visalia, Calif., 5.4 percent
11. Redding, Calif., 15.4 percent
12. Hanford, Calif., 15.3 percent
13. Longview, Wash., 15.2 percent

Source: CNNMoney, Julianne Pepitone (06/03/2009)