On an annualized basis, the Oregon counties covered in this report increased employment by 0.92 percent, or approximately 15,590 jobs, a further—albeit modest—improvement from the 0.8 percent annual growth that was discussed in our last report. On a year-over-year basis, 19 counties saw their employment base expand and five saw employment contract.
Generally speaking, I see steady improvement in the regional economy, which is pleasing. Employment growth is evident in a vast majority of the counties analyzed in this report, and unemployment rates continue to improve.
The housing market in the state remains on a more solid footing with steady improvement seen pretty much across the board. Interest rates remain at or near historic lows which, when viewed in concert with the stability in home values, has acted as a catalyst and allowed many would-be buyers to get off the fence.
Windermere Real Estate is proud to partner with Gardner Economics on this analysis of the Western Washington real estate market. This report is designed to offer insight into the realities of the housing market.