Home Archives August 2007 Northwest housing holds steady

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

A Taste of Heaven

September 2014
Tuesday, August 26, 2014
BY VIVIAN MCINERNY

Craft beer comes to Mount Angel.


Read more...

Grape Expectations

October 2014
Thursday, September 25, 2014
BY HANNAH WALLACE

Well-financed outsiders from France and California are buying up vineyards and wineries in the Willamette Valley.


Read more...

College Conundrum

October 2014
Thursday, September 25, 2014
BY KIM MOORE

University and college tuition fees have been rising for more than a decade, while state funds for higher education have steadily declined.


Read more...

Powerlist: Law Firms

October 2014
Thursday, September 25, 2014
BY KIM MOORE

A conversation with leading partners at law firms in Portland and eastern Oregon, followed by October's powerlist.


Read more...

Private liberal arts education: superior outcomes, competitive price

Contributed Blogs
Tuesday, August 26, 2014
0826 thumb collegemoneyBY DEBRA RINGOLD | OP-ED CONTRIBUTOR

Why has six years become an acceptable investment in public undergraduate education that over-promises and underperforms?


Read more...

Launch

October 2014
Thursday, September 25, 2014
BY JESSICA RIDGWAY

October's Launch article features Soul Kitchen, Easy Company and Slick's Big Time BBQ.


Read more...

Podcast: Turn Things Around with David Marquet

Contributed Blogs
Friday, October 17, 2014
davidmarquet thumbBY TOM COX | OB BLOGGER

How can you move from a command-and-control leadership model to one of true empowerment and accountability? David Marquet did, and he took notes along the way.


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