Although I have said it many times it is just as true today as it has been during the entire economic event, the housing problems don't solve until employment is solved. The employment solution is not dependent on housing but housing is definitely dependent on employment.
Here is a sampling for December 2010 comparing December 2009 as you go through the information you may want to ask yourself about the price of swamp land being sold by the powers that be
#1 Denver unemployment December 2010 8.7% unemployment December 2009 7.5%
Denver-Aurora
|
Number of sales |
Dec-09 |
Dec-10 |
% Chng |
|
Resale houses |
2,529 |
2,200 |
-13.00% |
|
Resale condos |
657 |
554 |
-15.70% |
|
New homes |
448 |
437 |
-2.50% |
|
All homes |
3,634 |
3,191 |
-12.20% |
|
|
|
|
|
|
Median sale price |
Dec-09 |
Dec-10 |
% Chng |
|
Resale houses |
$213,000 |
$216,250 |
1.50% |
|
Resale condos |
$122,625 |
$120,000 |
-2.10% |
|
New homes |
$284,700 |
$310,000 |
8.90% |
|
All homes |
$204,000 |
$215,000 |
5.40% |
#2 Portland unemployment December 2010 9.9% unemployment December 2009 10.5%
Portland-Vancouver-Beaverton, OR-WA MSA*
|
Number of sales |
Dec-09 |
Dec-10 |
% Chng |
|
Resale houses |
364 |
310 |
-14.80% |
|
Resale condos |
157 |
177 |
12.70% |
|
New homes |
1,781 |
1,655 |
-7.10% |
|
All homes |
2,302 |
2,142 |
-7.00% |
|
|
|
|
|
|
Median sale price |
Dec-09 |
Dec-10 |
% Chng |
|
Resale houses |
$234,000 |
$254,000 |
8.50% |
|
Resale condos |
$154,000 |
$149,000 |
-3.20% |
|
New homes |
$235,975 |
$222,500 |
-5.70% |
|
All homes |
$230,000 |
$222,000 |
-3.50% |
#3 Seattle unemployment December 2010 8.8% unemployment December 2009 9.9%
Seattle-Tacoma-Bellevue
|
Number of sales |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Chng |
|
Resale houses |
2,363 |
1,938 |
2,309 |
-2.30% |
|
Resale condos |
516 |
388 |
465 |
-9.90% |
|
New homes |
574 |
379 |
520 |
-9.40% |
|
All homes |
3,453 |
2,705 |
3,294 |
-4.60% |
|
|
|
|
|
|
|
Median sale price |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Chng |
|
Resale houses |
$305,000 |
$285,000 |
$293,500 |
-3.80% |
|
Resale condos |
$235,000 |
$232,000 |
$225,000 |
-4.30% |
|
New homes |
$307,970 |
$310,235 |
$300,000 |
-2.60% |
|
All homes |
$297,450 |
$280,000 |
$285,000 |
-4.20% |
#4 Phoenix unemployment December 2010 8.4% unemployment December 2009 8.3%
Phoenix as a side note in phoenix I was just there and the "prediction" is a drop in the 1st quarter to around $100,000 sales price
|
Number of sales |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Change |
|
Resale houses |
6,808 |
5,639 |
6,905 |
1.40% |
|
Resale condos |
942 |
845 |
1071 |
13.70% |
|
New homes |
1076 |
644 |
730 |
-32.20% |
|
All homes |
8,826 |
7,128 |
8,706 |
-1.40% |
|
|
|
|
|
|
|
Median sale price |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Change |
|
Resale houses |
$132,750 |
$125,500 |
$120,000 |
-9.60% |
|
Resale condos |
$94,750 |
$75,000 |
$73,000 |
-23.00% |
|
New homes |
$190,000 |
$195,037 |
$208,309 |
9.60% |
|
All homes |
$136,500 |
$127,500 |
$120,000 |
-12.10% |
#5 unemployment December 2010 14.9% unemployment December 2009 13%
Las Vegas-Paradise
|
Number of sales |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Chng |
|
Resale houses |
3,692 |
2,752 |
3,252 |
-11.90% |
|
Resale condos |
1030 |
813 |
972 |
-5.60% |
|
New homes |
594 |
447 |
445 |
-25.10% |
|
All homes |
5,316 |
4,012 |
4,669 |
-12.20% |
|
|
|
|
|
|
|
Median sale price |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Chng |
|
Resale houses |
$135,000 |
$134,900 |
$130,000 |
-3.70% |
|
Resale condos |
$73,000 |
$66,450 |
$62,700 |
-14.10% |
|
New homes |
$206,548 |
$197,000 |
$206,476 |
0.00% |
|
All homes |
$129,000 |
$127,050 |
$124,000 |
-3.90% |
#6 Yellowstone County unemployment December 2010 5.2% unemployment December 2009 5.1%
|
Number of sales |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Chng |
|
Resale houses |
104 |
120 |
106 |
1.92% |
|
Resale condos |
26 |
15 |
13 |
-50.00% |
|
New homes |
||||
|
All homes |
132 |
139 |
119 |
-9.85% |
|
|
|
|
|
|
|
Median sale price |
Dec-09 |
Nov-10 |
Dec-10 |
YOY %Chng |
|
Resale houses |
$199,000 |
$186,000 |
$198,500 |
-.003% |
|
Resale condos |
$149,900 |
$154,837 |
$180,815 |
12.06% |
|
New homes |
|
|
||
|
All homes |
$180,950 |
$184,000 |
$193,500 |
5.76% |
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