April 25, 2019
Western Washington Real Estate Market Update
Posted in Western Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Washington State employment slowed to an annual growth rate of 1.7% — a level not seen since 2012 — and continues a trend of slowing that started in the summer of 2018. I was a little surprised to see such a significant drop in employment growth, but it may be due to the state re-benchmarking their data (which they do annually).
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February 18, 2019
Hawaii/Maui Real Estate Market Update
Posted in Hawaii/Maui Real Estate Market Update 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
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
Posted in Hawaii/Big Island Real Estate Market Update 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
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
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
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
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
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
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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