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

Party Like It’s 1999

Contributed Blogs
Wednesday, February 25, 2015
pets-com-sock-puppetBY JASON NORRIS, CFA | OB GUEST BLOGGER

Pets.com, GeoCities, eToys, and WorldCom … blasts-from-the-past that all signify the late 1990s Internet bubble. Yet we believe the dynamics of the market, specifically in technology stocks, are much different today than it was during the late 1990s.


Read more...

5 questions for inDinero CEO Jessica Mah

The Latest
Tuesday, March 31, 2015
jessicathumbBY JACOB PALMER | DIGITAL NEWS EDITOR

inDinero, a business that manages back-office accounting for startups and smaller companies, recently announced it would relocate its headquarters from San Francisco to Portland. We talked to CEO Jessica Mah about what drew her to Portland and how she plans to disrupt the traditional CPA model.


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...

On the Brink

March 2015
Friday, February 20, 2015
BY APRIL STREETER | OB CONTRIBUTOR

Leslie Carlson channels the big idea.


Read more...

Grassroots movement pursues carbon bills

News
Tuesday, February 24, 2015
eventthumbBY KIM MOORE | OB RESEARCH EDITOR

A partnership of a grassroots environmental organization and a youth group is striving to build community and business support for carbon price legislation.


Read more...

Downtime with the executive director of Greater Portland Inc.

April 2015
Thursday, March 26, 2015

Janet LaBar, Executive director, Greater Portland Inc.


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