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Windermere Blog | Author: Matthew Gardner, Chief Economist, Windermere Real Estate

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February 18, 2019

Hawaii/Maui Real Estate Market Update

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Posted by Matthew Gardner, Chief Economist, Windermere Real Estate


Hawaii’s economy offered a mixed bag of growth in the fourth quarter of 2018. Employment declined 1.4% but the unemployment rate was a healthy 2.3%. Over the past year, the economy has shed 9,300 jobs, and annual job gains have been negative for the past three months. On Maui, employment growth dropped 1.9% and was negative for the whole of the fourth quarter. That said, there are 78,600...
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February 14, 2019

Montana Real Estate Market Update

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Posted in Montana Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


According to the Labor Department, Montana added 4,700 new non-agricultural jobs in 2018, representing an annual growth rate of 1.5%. For perspective, the U.S growth rate is running at about 1.7%. State employment growth was a little frenetic last year, with monthly employment dropping in three of twelve months. I do not see this as a trend but I don’t expect to see any rapid rise in...
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February 13, 2019

Big Island of Hawaii Real Estate Market Update

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Posted by Matthew Gardner, Chief Economist, Windermere Real Estate


Hawaii’s economy offered a mixed bag of growth in the fourth quarter of 2018. Employment declined 1.4% but the unemployment rate was a healthy 2.3%. Year-over-year, the economy has shed 9,300 jobs, and annual job gains have been negative for the past three months. On the Big Island, employment growth dropped 2.6% and has been negative for the past five months. That said, there are 85,800...
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February 11, 2019

Oregon and Southwest Washington Real Estate Market Update

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Posted in Oregon and Southwest Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


Oregon added 30,800 new jobs in 2018, representing an annual growth rate of 1.6%. Though the job growth rate norm for the past 20 years has been 2% or more, this slowdown does not concern me. It’s to be expected at this stage in the economic cycle. The Southwest Washington market (Clark, Cowlitz, Skamania, and Klickitat counties) added 6,680 new jobs over the past 12 months, which represents...
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February 07, 2019

Idaho Real Estate Market Update

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Posted in Idaho Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


Job growth in Idaho slowed in the fall of 2018 but the state added 13,200 new jobs over the past 12 months, representing an annual growth rate of 1.8%. In November, the state unemployment rate was 2.6%, down from 3% a year ago. The state remains at full employment, which explains why we are seeing a slowdown in employment growth. I fully anticipate that the state will return to...
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February 06, 2019

Central Washington Real Estate Market Update

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Posted in Central Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


The Washington State economy continues to add jobs at an above-average rate, though the pace of growth is starting to slow as the business cycle matures. Over the past 12 months, the state added 96,600 new jobs, representing an annual growth rate of 2.9% — well above the national rate of 1.7%. Private sector employment gains continue to be quite strong, increasing at an annual rate of 3.6%...
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February 05, 2019

Utah Real Estate Market Update

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Posted in Utah Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


Utah added 43,700 non-agricultural jobs over the past 12 months, representing a growth rate of 2.9%. For perspective, the U.S growth rate is 1.7%. Monthly employment growth in Utah has started to slow, but I attribute this to the fact that the region is essentially at full employment and it is typical to see job growth slow, especially at this stage of the business cycle. In November, the...
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February 04, 2019

Eastern Washington Real Estate Market Update

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Posted in Eastern Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


The Washington State economy continues to add jobs at an above-average rate, though the pace of growth is starting to slow as the business cycle matures. Over the past 12 months, the state added 96,600 new jobs, representing an annual growth rate of 2.9%—well above the national rate of 1.7%. Private sector employment gains continue to be quite strong, increasing at an annual rate of 3.6%...
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January 31, 2019

Colorado Real Estate Market Update

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Posted in Colorado Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


The Colorado economy continues to grow, adding 69,100 new non-agricultural jobs over the past 12 months, which represents a solid growth rate of 2.6%. That said, we are continuing to see a modest slowdown in employment gains, but that is to be expected at this stage of the business cycle. My latest forecast suggests that Colorado will add a total of 65,000 new jobs in 2019, representing a...
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January 30, 2019

Nevada Real Estate Market Update

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Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate


Job growth in the Las Vegas metropolitan area remains very strong. A total of 38,900 new jobs were added over the past 12 months, representing an impressive annual growth rate of 3.9%. For perspective, the U.S. as a whole is growing at around 1.7% or less than half the rate of Las Vegas. As jobs are added to the local economy, the unemployment rate is trending lower. The seasonally adjusted...
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