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Today's Market News
Seattle Shows Housing Strength
 NWREporter
June 2006
Seattle is "one coastal market that remains strong,"
according to a report in The Wall Street Journal. Upon evaluating
fundamental indicators in 18 major real estate markets, reporter James
Hagerty and research colleagues uncovered some shifts in the relative
strengths of housing markets.
Using data from multiple sources, the newspaper examined inventories,
pricing trends and projections of job creation.
Houston, Dallas and Atlanta emerged as "robust markets,"
while Boston, Miami and Los Angeles are "slowing markets."
Phoenix, Las Vegas, San Diego and Washington, D.C. have "mixed"
indicators.
Seattle was one of only five areas with a "very strong"
employment outlook, and one of only five areas with upward trending
prices. It was the only area with both a gain in inventory and prices
combined with expectations of "very strong" job growth.
Citing real estate executives and economists, the report concluded the
nation as a whole will experience a "fairly soft landing for the
housing market." Exceptions may occur in parts of Southern
California, where "prices could fall as much as 5 percent to 10
percent this year."
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Where Housing is Heading?
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Metro Area
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Change in Housing
Inventory
(vs year ago) 1
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Recent Price Trend
(March vs Feb.) 2
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Employment Outlook
3
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Atlanta
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▲15%
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▲
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Strong
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Boston
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▲91%
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NA
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Weak
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Chicago
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▲28%
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▲
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Average
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Dallas
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0%
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▲
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Very strong
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Denver
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▲19%
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▼
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Strong
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Detroit
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▲46%
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▼
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Very weak
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Houston
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▼3%
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▲
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Very strong
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Las Vegas
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▲24%
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▼
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Very strong
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Los Angeles
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▲149%
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Flat
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Weak
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Miami
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▲236%
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Flat
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Weak
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Minneapolis
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▲43%
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▼
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Weak
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New York
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▲70%
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▼
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Weak
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Philadelphia
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▲39%
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Flat
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Weak
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Phoenix
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▲282%
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▼
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Very strong
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San Diego
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▲91%
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NA
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Strong
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San Francisco
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▲65%
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NA
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Weak
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Seattle
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▲5%
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▲
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Very strong
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Washington, D.C.
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▲230%
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Flat
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Strong
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Source: The Wall Street Journal
1 From multiple listing services, various markets
2 Based on survey of real estate agents by Banc of America
Securities
3 Based on job growth projections by Moody’s Economy.com for the
three years ending Dec. 31, 2008.
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