April 25, 2018
Western Washington Real Estate Market Update
Posted in Western Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The Washington State economy added 96,900 new jobs over the past 12 months, representing an annual growth rate of 2.9%—still solidly above the national rate of 1.5%. Most of the employment gains were in the private sector, which rose by 3.4%. The public sector saw a more modest increase of 1.6%. The strongest growth was in the Education & Health Services and Retail sectors, which added 17,300...
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April 16, 2018
How to Get Back to a Balanced Housing Market
Posted in Economics 101 Videos by Matthew Gardner, Chief Economist, Windermere Real Estate
Developers are not building enough single-family homes to keep up with demand. The reason why? Cost. Windermere's Chief Economist, Matthew Gardner explains why new construction is so cost prohibitive and how to shift the trend.
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February 12, 2018
Central Washington Real Estate Market Update
Posted in Central Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The Washington State economy added 104,600 new jobs over the past 12 months. This impressive growth rate of 3.1% is well above the national rate of 1.4%. Interestingly, the slowdown we experienced through most of the second half of the year reversed in the fall, and we actually saw stronger employment growth.
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February 08, 2018
Idaho Real Estate Market Update
Posted in Idaho Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Idaho added 14,700 new jobs in 2017, representing a growth rate of 2.1%. Although this is still a reasonable figure—and well above the total U.S. rate— this rate continues a cooling off we’ve seen over the past few quarters, which is to be expected as the state has essentially reached full employment.
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February 07, 2018
Eastern Washington Real Estate Market Update
Posted in Eastern Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The Washington State economy added 104,600 new jobs over the past 12 months. This impressive growth rate of 3.1% is well above the national rate of 1.4%. Interestingly, the slowdown we experienced through most of the second half of the year reversed in the fall, and we actually saw more robust employment growth. The counties contained in this report added 13,597 new jobs over the past 12 months...
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February 06, 2018
Oregon and Southwest Washington Real Estate Market Update
Posted in Oregon and Southwest Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The State of Oregon added 30,600 new jobs over the past 12 months, representing an annual growth rate of 1.7%. Although job growth continues to slow, solid gains were still seen in the Construction (+7,400), Education & Health Services (+6,400), and Leisure & Hospitality (+5,200) sectors. Oregon’s unemployment rate was in record low territory for all of 2017, diving to 3.6% in May of...
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February 05, 2018
Utah Real Estate Market Update
Posted in Utah Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The State of Utah added 41,200 non-agricultural jobs over the past 12 months, representing a solid growth rate of 2.8%. Although the area has experienced a slowing in employment gains, the economy is running at full employment, which limits how many new jobs can be created. In last quarter’s report, I forecasted that the pace of employment growth was likely to kick back up during the last...
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February 01, 2018
Colorado Real Estate Market Update
Posted in Colorado Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Colorado added 45,300 non-agricultural jobs over the past 12 months, a growth rate of 1.7%. Although that is a respectable number, employment growth has been trending lower in 2017 as the state reaches full employment. Within the metropolitan market areas included in this report, there was annual employment growth in all areas other than Grand Junction, where employment was modestly lower.
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January 31, 2018
Southern California Real Estate Market Update
Posted in Southern California Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The counties covered by this report—Los Angeles, San Diego, San Bernardino, Orange, and Riverside—added 130,300 new jobs between November 2016 and November 2017. As a result, the unemployment rate dropped from 4.7% to 3.8%. Employment growth in Southern California picked up a bit as we moved through the final quarter of last year, and I expect this to continue as we move into 2018.
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January 30, 2018
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment in the Las Vegas metropolitan area continues to moderate but, with a year-over-year employment growth rate of 2.7%, the region is still performing well above the national average of 1.4%. Over the past 12 months, the area has added 25,500 new jobs. This has led to a respectable unemployment rate of 5.3%.
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