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August 07, 2017
Idaho Real Estate Market Update
Posted in Idaho Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Idaho has added 16,800 new jobs over the past 12 months, representing an above average growth rate of 2.4%. The Education & Health Services sector showed the largest annual job growth, up 4.8%. There were also strong employment gains in Construction, Government Services, Leisure & Hospitality, and Manufacturing.
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August 04, 2017
Central Washington Real Estate Market Update
Posted in Central Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Like much of the rest of the state, Central Washington continues to experience modest employment growth. An additional 1,300 jobs were created between May 2016 and May 2017, which drove the unemployment rate lower (from 6.3% to 5.4%). I believe we will see continued growth in employment, leading to further declines in the unemployment rate through the duration of 2017.
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August 02, 2017
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 has added 46,500 new jobs over the past 12 months with impressive gains seen in the professional and business services, leisure and hospitality, and trade sectors. Also of interest is that the construction sector continues to expand rapidly, potentially signifying greater interest in adding to the region’s housing supply...
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August 01, 2017
Eastern Washington Real Estate Market Update
Posted in Eastern Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Like much of the rest of the state, Eastern Washington continues to experience modest employment growth, which is driving the unemployment rate lower. I also expect to see continued growth in employment as we move through the balance of the year.
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July 31, 2017
Colorado Real Estate Market Update
Posted in Colorado Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Colorado added 62,000 new jobs over the past 12 months, an increase of 2.4% over this time last year. All of the metropolitan markets included in this report saw annual employment growth, with substantial growth in Boulder (4.7%) and Fort Collins (+4.1%), and more modest growth in Grand Junction (0.3%). In May, the unemployment rate in the state was 2.3%, matching the prior month and down...
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July 28, 2017
Southern California Real Estate Market Update
Posted in Southern California Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The markets covered by this report—Los Angeles, San Diego, San Bernardino, Orange, and Riverside—added 131,900 new jobs between May 2016 and May 2017. As a result, the unemployment rate dropped from 4.7% to 3.9%. Growth in the Southern California market has started to taper, but this is unsurprising given our place in the current economic expansion.
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July 27, 2017
Nevada Real Estate Market Update
Posted in Nevada Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Employment growth in the Las Vegas metropolitan area slowed down—albeit very modestly—as the market entered the summer, with an annual employment growth of 2.9%. That said, the market has added 27,300 new jobs over the past 12 months. With this growth in employment, the unemployment rate remained at 4.8%, which is marginally above the statewide level of 4.7%. Las Vegas continues to approach...
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July 26, 2017
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 has been expanding at a rapid pace but we are seeing a slowdown as the state grows closer to full employment. Given the solid growth, I would expect to see income growth move markedly higher, though this has yet to materialize. I anticipate that we will see faster income growth in the second half of the year. I still believe that the state will add around 70,000 jobs
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July 20, 2017
Why aren’t homebuilders building more homes?
Posted in Inman News by Matthew Gardner, Chief Economist, Windermere Real Estate
Housing markets all across the U.S. are suffering from serious shortages of homes for sale, and this isn’t expected to change in the foreseeable future. When I think about inventory levels and the fact that demand is clearly outstripping supply, it makes me question why homebuilders aren’t stepping up to the plate to meet all this pent-up demand.
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June 23, 2017
Baby Boomers: Impact on the U.S. Housing Market
Posted in Economics 101 Videos by Matthew Gardner, Chief Economist, Windermere Real Estate
75 million Baby Boomers control nearly 80% of all U.S. wealth, and as this generation ages, retires, and inevitably downsizes, they will have a significant impact on the housing market. Windermere’s Chief Economist, Matthew Gardner, explains when we can expect to see Boomers start to sell, opening much-needed inventory and making home ownership available to younger generations.
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