May 15, 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 continues to add jobs, but the rate of growth remains tepid. Over the past 12 months, the state added 3,200 new jobs, representing a growth rate of .5%. This lackluster growth may be due to the fact that the unemployment rate was a very healthy 2.7%. On Maui, employment growth dropped 2.2% year-over-year, and has been contracting for the past 14 months.
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May 14, 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 continues to add jobs, but the rate of growth is tepid. Over the past 12 months, Hawaii added just 1,400 new jobs, representing a growth rate of 0.2%. Even with this lack of job formation, the state has a very healthy 2.8% unemployment rate. On the Big Island, year-over-year employment dropped 4.7% to 84,600 persons and has been negative for the past eight months.
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May 13, 2019
Montana Real Estate Market Update
Posted in Montana Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Over the past 12 months, Montana has added 4,800 new non-agricultural jobs. This represents an annual growth rate of a modest 0.9%, which is lower than the national growth rate of 1.7%. In the first quarter of the year, the state lost 1,300 non-agricultural jobs, which was a disappointment, but I remain hopeful we will see some improvement as we move through the balance of the year.
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May 09, 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 29,500 new jobs over the past 12 months, representing an annual growth rate of 1.5%. The current pace of job growth continues the slowdown that started in mid-2018. I am not overly concerned by this slowdown in growth, as it is typical for this stage in the economic cycle.
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May 08, 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 continues to moderate. The state added 19,400 new jobs over the past 12 months, representing an annual growth rate of 2.7%. That said, the growth rate remains well above the national average of 1.7%. In March, Idaho’s unemployment rate was 2.9%, matching the level seen a year ago.
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May 07, 2019
Central Washington Real Estate Market Update
Posted in Central 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. Over the past 12 months, the state added 56,100 new jobs. Month-over-month, all metropolitan areas in the state either saw the number of jobs contract or remain at their existing levels. This is a little unusual and may be...
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May 06, 2019
Utah Real Estate Market Update
Posted in Utah Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Utah’s economy continues to outperform the country with the addition of 43,700 non-agricultural jobs over the past 12 months, representing a growth rate of 3.1% that is very solid compared to the U.S. rate of 1.7%. However, growth has started to slow — albeit modestly — and this is likely to continue given the maturity of the economic cycle...
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May 02, 2019
Eastern Washington Real Estate Market Update
Posted in Eastern 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. Over the past 12 months, the state added 56,100 new jobs. Month-over-month, all metropolitan areas in the state either saw the number of jobs contract or remain at their existing levels.
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May 01, 2019
Colorado Real Estate Market Update
Posted in Colorado Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Colorado’s economy continues to grow with the addition of 44,800 new non-agricultural jobs over the past 12 months. This represents a reasonable growth rate of 1.7%. As stated in last quarter’s Gardner Report, we continue to see a modest slowdown in employment gains, but that’s to be expected at this stage of the business cycle. I predict that employment growth in Colorado will pick back up...
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April 30, 2019
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 remains robust. A total of 28,000 new jobs were added over the past 12 months, representing an annual growth rate of 2.8%. For perspective, the U.S. as a whole is growing at around 1.7%, or less than half the rate of Las Vegas. As the labor market expands, the unemployment rate continues to trend lower...
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