Sponsored by Oregon Business

Northwest housing holds steady

| Print |  Email
Wednesday, August 01, 2007
Cumulative increase in house prices for various periods
and compound annual growth rate (CAGR) over five years
All periods through 3/31/07 Q1 2007 1 Year 5 Years 5Y CAGR
ALASKA +1.4% +7.0% +53.7% +9.0%
Anchorage +1.4% +6.9% +57.0% +9.4%
Fairbanks +3.2% +7.4% +46.4% +7.9%
IDAHO +1.7% +12.3% +64.3% +10.4%
Boise-Nampa +2.0% +14.5% +70.9% +11.3%
Coeur d’Alene +1.3% +7.0% +89.2% +13.6%
Idaho Falls +3.8% +13.6% +45.5% +7.8%
Pocatello -0.6% +9.3% +40.3% +7.0%
MONTANA +2.5% +11.7% +62.2% +10.2%
Billings +0.7% +8.0% +46.0% +7.9%
Great Falls +2.6% +11.9% +41.3% +7.2%
OREGON +1.3% +10.8% +69.0% +11.1%
Bend +0.4% +13..7% +100.9% +15.0%
Corvallis +1.5% +13.9% +52.2% +8.8%
Eugene-Springfield +0.7% +9.0% +65.8% +10.6%
Medford-Ashland +0.6% +1.1% +86.4% +13.3%
Portland- Vancouver-Beaverton +1.3% +11.0% +67.4% +10.9%
Salem +1.9% +13.4% +53.0% +8.9%
WASHINGTON +1.9% +11.6% +67.2% +10.8%
Bellingham +1.9% +8.2% +85.8% +13.2%
Bremerton-Silverdale +2.2% +11.1% +85.2% +13.1%
Kennewick-Richland-Pasco -2.1% +3.4% +21.9% +4.0%
Longview +1.8% +12.9% +53.5% +8.9%
Olympia -0.2% +8.6% +73.2% +11.6%
Seattle-Bellevue +2.2% +12.6% +66.3% +10.7%
Spokane +2.2% +13.6% +66.4% +10.7%
Tacoma +1.5% +11.9% +76.1% +12.0%
CALIFORNIA -0.8% +1.2% +98.8% +14.7%
Los Angeles-Long Beach -0.3% +4.8% +124.5% +17.6%
San Francisco +0.3% +1.3% +56.9% +9.4%
San Jose -0.8% +2.3% +55.6% +9.2%
U.S. +0.5% +4.3% +53.5% +9.0%
SOURCE: Office of Federal Housing Enterprise Oversight (www.ofheo.gov)

Economic conditions remain much stronger in the Pacific Northwest and Intermountain West than elsewhere in the United States, at least if housing prices are an accurate guide.

All seven states with the highest increases in house prices in 12 months through the end of March are in one of those two areas. In order, they are Utah, Idaho, Montana, Wyoming, Washington, New Mexico and Oregon. Mississippi, Louisiana and North Carolina round out the Top 10.

The West also dominates the list of metro areas with the biggest price gains in 12 months through March. Top movers in the western states:  Boise-Nampa (No. 8), Corvallis (9), Bend (10), Spokane (11), Salem (13), Longview (14), Seattle-Bellevue-Everett (16), and Tacoma (19).

Washington’s house prices, fueled by booms in aerospace and software, remain especially strong. Five of the top 20 U.S. metro areas are in Washington. One-year price increases exceeded 10% in a majority of Washington’s ranked metro areas.

The table underscores the point: Prosperity is widespread in the Pacific Northwest, not confined to just a few areas. Who would have imagined that home prices would rise faster in Tacoma and Spokane than in the Seattle area — due in part to starting from a lower base?


— Excerpted from Marple’s Pacific Northwest Letter, editor Michael Parks. For information about this biweekly report on Northwest economic trends, visit www.marples.com.

 

More Articles

Power Players

April 2015
Friday, March 27, 2015
BY ROBERT MULLIN

A new energy-sharing agreement sparks concerns about independence and collaboration in the region's utility industry.


Read more...

Epitaph for a Boondoggle

April 2015
Friday, March 27, 2015
BY JOE CORTRIGHT

The CRC is a cautionary tale about how we plan for, finance and invest in transportation infrastructure.


Read more...

Emperor of the Sea

April 2015
Friday, March 27, 2015
BY COURTNEY SHERWOOD | Photos by Jason E. Kaplan

Pacific Seafood, one of the world’s largest processors, is rebranding as a more transparent and consumer-friendly operation. A controversial CEO and monopoly accusations from coastal fishermen complicate the tale.


Read more...

Are wolves good for business?

Contributed Blogs
Friday, March 06, 2015
030615-wolf-thumbBY JEFF DELKIN | OP-ED CONTRIBUTOR

As a local business owner, I believe it’s important to build our economy on a platform of conservation values.  


Read more...

The best crisis is the one you avoid

Contributed Blogs
Wednesday, April 15, 2015
crisisthumbBY GARY CONKLING | GUEST BLOGGER

Avoiding a crisis is a great way to burnish your reputation, increase brand loyalty and become a market leader.


Read more...

Meeting Facilities Perspective

March 2015
Tuesday, February 24, 2015
BY KIM MOORE | OB RESEARCH EDITOR

A conversation with Donna Earley, director of sales and marketing for the Salem Convention Center.


Read more...

100 Best: The Power of the Worker

March 2015
Wednesday, February 25, 2015
BY KIM MOORE | OB RESEARCH EDITOR
AND AMY MILSHTEIN | OB CONTRIBUTOR

Technology is empowering people like never before and transforming how employees interact in the workplace. How can companies attract and keep staff engaged in this rapidly changing world?


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS