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May 10, 2018
Why the Seattle Head Tax is not Progressive; it is Regressive & Bad Policy
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
The major topic of conversation at many Seattle businesses – both large and small – is the Seattle City Council’s proposal for a head tax on large companies. The city proposal is to raise $75 million annually for homeless and housing services through taxing businesses whose revenues exceed $20 million annually.
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May 08, 2018
Idaho Real Estate Market Update
Posted in Idaho Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Idaho has added 24,000 new jobs over the past 12 months, representing an impressive growth rate of 3.4%. In February, the state unemployment rate was 3% and, with the ongoing growth in the labor force, there are clearly still jobs out there to be had. Through the duration of the year, I expect Idaho’s employment growth to continue outperforming the U.S. as a whole.
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May 07, 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 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%. The counties contained in this report added 1,616 new jobs over the past 12 months, which was a modest growth of 0.8%. The local unemployment rate for the area continued to fall, with a drop from 9% to 8%.
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May 03, 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 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%. Even with solid increases in jobs, the state unemployment rate held steady at 4.7%...
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May 02, 2018
Oregon & Southwest Washington Real Estate Update
Posted in Oregon and Southwest Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The State of Oregon has added 43,700 new jobs over the past 12 months, representing a robust annual growth rate of 2.3%. Job growth picked up in the first quarter of 2018, with significant annual gains in Education & Health Services (+26,000), Leisure & Hospitality (+9,700), and Construction (+7,400). Oregon’s unemployment rate was 4.1%.
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May 01, 2018
Utah Real Estate Market Update
Posted in Utah Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
According to the Labor Department, Utah added 46,200 non-agricultural jobs over the past 12 months, representing a very substantial growth rate of 3.1%. 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 February, the unemployment rate was measured at 3.1%, down from 3.3% a year ago.
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April 30, 2018
Colorado Real Estate Market Update
Posted in Colorado Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
It’s good news for the state of Colorado, which saw annual employment grow in all of the metropolitan markets included in this report. The state added 63,400 non-agricultural jobs over the past 12 months, an impressive growth rate of 2.4%. Colorado has been adding an average of 5,300 new jobs per month for the past year, and I anticipate that this growth rate will continue through the balance...
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April 27, 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 maintained the same growth rate as the final quarter of 2017, with year-over-year employment up by 2.7%. Over the past 12 months, the area has added 26,300 new jobs. This job creation has led the seasonally adjusted unemployment rate to measure 5.1%. This is the same rate as a year ago due to growth in the civilian labor force.
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April 26, 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 164,100 new jobs between February 2017 and February 2018. As a result, the unemployment rate dropped from 4.8% to 4.1%. Employment growth in Southern California continued to pick up a bit as 2018 started, and I anticipate this will continue as we move through the year.
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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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