April 25, 2016
An Incoming Tide Raises All Ships: How the Growth in Homeowner Equity Continues to Stabilize the U.S. Housing Market
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
With home prices rising and consumers not taking on additional mortgage debt, equity levels have grown substantially. The country went through a very painful period of negative equity during the housing recession, but the growth started returning in 2012, and we moved back into a period of positive equity again by the summer of 2013. In 2015, equity levels increased by an impressive 10.2 percent
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April 21, 2016
Western Washington Real Estate Market Update
Posted in Market News and Western Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Washington State has seen very robust growth over the past 12 months with the addition of 102,600 new jobs, which is 224,000 more jobs than seen at the previous peak in 2008. With this robust growth, it is unsurprising to see the unemployment rate trend down to 5.8%—well below the long-term average of 6.4%. As pleasing as it is to see the unemployment rate drop, it is equally pleasing to see...
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April 11, 2016
What’s the Deal with Condos?
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
The Greater-Seattle region continues to grow its population base but not its land base. As such, density needs to be embraced. Condominiums play an important part of the equation, but until this segment of the market regains its footing, there will be further pressure on housing of all types to accommodate the region’s growth, and this will continue to put upward pressure on prices.
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February 10, 2016
Oregon and Southwest Washington Real Estate Market Update
Posted in Market News and Oregon and Southwest Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The Oregon economy continues to expand and I do not see this changing in the foreseeable future. However, similar to many West Coast markets, Oregon’s inventory constraints are becoming problematic. I believe we will see more listings come online in 2016 as home equity levels continue to expand, but unfortunately it will not be enough to meet demand...
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February 02, 2016
Western Washington Real Estate Market Update
Posted in Market News and Western Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
The Washington State economy has added almost 370,000 jobs since the lowest point of the recession at the start of 2010. Additionally, total employment is 176,000 jobs higher than seen at the 2008 peak. With a vast majority of our metropolitan areas having fully recovered from the job losses seen during the recession, I expect to see somewhat more modest job growth in the coming year.
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January 11, 2016
2016 Economic & Housing Forecast
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
It appears that 2016 will be a year of few surprises as it pertains to the housing market. Because it’s an election year, we shouldn’t expect to see any significant governmental moves that would have a major impact on the U.S. economy or housing market. Read about this and more in Windermere Chief Economist Matthew Gardner’s 2016 forecast.
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November 17, 2015
Oregon and Southwest Washington Real Estate Market Update
Posted in Market News and Oregon and Southwest Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
Although the rate of growth has slowed somewhat, the Oregon economy continues to expand its job base. There was a decline in employment in September and the unemployment rate rose, but I do not see this as a trend so much as a temporary “blip”. I anticipate that, going forward, the State will continue to see growth at rates above the national average.
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November 11, 2015
Western Washington Real Estate Market Update
Posted in Market News and Western Washington Real Estate Market Update by Matthew Gardner, Chief Economist, Windermere Real Estate
After a period of above-average growth, Washington State has seen a modest slowing in employment growth, but we continue to add jobs at a respectable rate. The State unemployment rate was measured at 5.3%, marginally above the national level, but it is trending in the right direction.
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August 20, 2015
Oregon and Southwest Washington Real Estate Market Update
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
The Oregon economy has regained its traditional job growth advantage relative to the nation with employment growth running about one percent higher than a typical state. With the expansion in employment—in concert with rising wages—the economy appears to be in good shape. Although not yet at full employment, the direction is very positive.
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August 18, 2015
Will Millennials be ‘Perma-renters’?
Posted in Market News by Matthew Gardner, Chief Economist, Windermere Real Estate
There has been a lot of buzz in the news recently suggesting that millennials will forever be renters and not homeowners. Reasons for this theory include amenities that apartments offer, flexibility when it comes to moving and changing jobs, and inability to afford a home given the crushing student debt load many are carrying. So will this be the renter generation? Let’s take a look at the data.
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