December 18, 2018
2019 Economic and Housing Forecast
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
What a year it has been for both for the U.S. economy and the national housing market. After several years of above-average economic and home price growth, 2018 marked the start of a slowdown in the residential real estate market. As the year comes to a close, it’s time for me to dust off my crystal ball to see what we can expect in 2019.
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November 08, 2018
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 7,400 non-agricultural jobs between September 2017 and September 2018, representing an annual growth rate of 1.6%. For perspective, the U.S growth rate is about 1.7%. The state experienced pretty substantial monthly increases in employment over the last few months and I hope this will continue even as we see a slowdown in employment in the...
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November 07, 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
Oregon added 42,000 new jobs over the past 12 months, representing a very solid annual growth rate of 2.2%. In the second quarter Gardner Report, I stated that job growth in Oregon was starting to taper, but since then the state has made adjustments to figures from the last three years that now suggest job growth was stronger than originally reported. The Southwest Washington market...
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November 06, 2018
Idaho Real Estate Market Update
Posted in Idaho Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Job growth in Idaho remains fairly strong. Over the past 12 months the state has added 22,000 new jobs, representing a solid growth rate of 3.1%. In August, the state unemployment rate was 2.8%, down from 3.1% a year ago. The state is, essentially, at full employment, and it appears my forecast predicting that Idaho would add just over 20,000 new jobs in 2018 will likely come true.
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November 05, 2018
Central Washington Real Estate Market Update
Posted in Central Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Washington State continues to be one of the fastest growing states in the nation and there is little to suggest that there will be any marked slowdown in the foreseeable future. Over the past year, the state has added 105,900 new jobs, representing an annual growth rate of 3.2%. This remains well above the national rate of 1.65%. Private sector employment gains continue to be...
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November 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 has added 51,800 non-agricultural jobs over the past 12 months, representing a very solid growth rate of 3.5%, which makes Utah the fastest growing state in the country. For perspective, the U.S growth rate is running at 1.6%. Monthly employment gains in Utah have averaged 4,125 new jobs per month so far in 2018 and I believe we will end the calendar...
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October 31, 2018
Eastern Washington Real Estate Market Update
Posted in Eastern Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Washington State continues to be one of the fastest growing states in the nation and there is little to suggest that there will be any marked slowdown in the foreseeable future. Over the past year, the state has added 105,900 new jobs, representing an annual growth rate of 3.2%. This remains well above the national rate of 1.65%. Private sector employment gains continue to be...
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October 30, 2018
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 perform quite well, having added 72,200 non-agricultural jobs over the past 12 months — a solid growth rate of 2.7%. Through the first eight months of 2018, the state has added an average of 6,700 new jobs per month. There has been a modest slowdown in employment gains, but I really don’t think this is a cause for concern and still hold to my forecast that...
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October 29, 2018
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Job growth in the Las Vegas metropolitan area continues at a very brisk pace. A total of 32,300 new jobs were added over the past 12 months, representing a very strong annual growth rate of 3.3%. For perspective, the U.S. as a whole is growing at around 1.6%, or half the rate of Las Vegas. Even as jobs are added to the local economy, the unemployment rate is still higher than one would expect...
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October 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 a very modest 47,400 new jobs between August 2017 and August 2018. Even as job growth slowed, the unemployment rate dropped from 4.9% to 4.4%. Employment growth in Southern California has started to taper, due primarily to a slowing in employment gains in the large Los Angeles County market...
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