From: John Burns [jbrec@realestateconsulting.ccsend.com] on behalf of John Burns [newsletter1@realestateconsulting.com]
Sent: Friday, July 24, 2009 11:33 AM
To: Wasserman, Jim - Sacramento
Subject: Local Building Market Intelligence, July 2009

John Burns Real Estate Consulting
Local Building Market Intelligence™

July 24, 2009 

Florida's Construction Industry is on Life Support

Florida's construction market has virtually shut down. We have been valuing properties throughout the state all year and, while we are seeing some modest improvement in sales velocity, there is virtually no new construction. Year-to-date through May, the state has recorded just 9,741 single-family permits - a 49% decline from the year-ago period. We project 16,900 single-family permits in 2009, which will be a decline of 91% from the peak in 2005.

The rolling 12-month total of permits continues to decline. When the line starts to flatten, construction will have bottomed out.

While the story is grim for Florida real estate owners, the story is fantastic for potential home buyers. The payment on many brand-new homes is now less than $1,000 per month, the FHA is still offering low down payment programs, and the government is offering an $8,000 tax credit to home buyers. Consumers may never see payments this affordable again, and the word is getting out among renters. A surging group of renters moving into homeownership is exactly what is needed to stabilize Florida's housing market, and eventually kick-start construction again.

This is the most current available data for all variables and markets.


 
Permits Statistics
Employment Statistics
Affordability
   
12-
12-
Total
NF Payroll Employment
State
  Metro Area*
Month
S. Fam. Permits
Month
Total Permits
Permits / Peak Permits
1-Yr Growth
1-Yr Growth Rate
Unemp Rate
Median Home Price
Housing Costs / Income
Housing Cycle Barometer
Alabama
  Anniston-Oxford 142 196 42% (2,200) (4.1%) 9.5% $87,401 19% 0.8
  Auburn-Opelika 629 904 41% (800) (1.5%) 7.7% $134,310 28% 0.7
  Birmingham 1,747 2,314 30% (19,600) (3.7%) 8.7% $133,023 23% 0.6
  Decatur 113 113 12% (2,900) (5.0%) 10.7% $95,848 20% 1.0
  Dothan 313 315 42% (1,700) (2.7%) 8.1% $91,842 21% 0.8
  Florence 153 209 27% (1,100) (2.0%) 9.3% $96,440 20% 0.4
  Huntsville 2,309 3,176 64% (5,100) (2.4%) 7.2% $123,352 19% 0.8
  Mobile 1,077 2,255 81% (3,300) (1.8%) 9.6% $127,428 27% 3.2
  Montgomery 462 462 18% (5,300) (2.9%) 8.9% $129,305 24% 1.0
  Tuscaloosa 417 811 31% (2,500) (2.5%) 8.8% $122,410 26% 0.9
Alaska
  Anchorage 285 570 6% (200) (0.1%) 7.4% $192,591 22% 1.1
Arizona
  Flagstaff 203 205 15% (5,200) (7.8%) 6.3% $194,059 37% 4.3
  Phoenix 9,293 12,946 19% (139,800) (7.4%) 7.3% $120,000 19% 0.6
  Prescott 390 511 11% (5,600) (8.9%) 8.5% $166,954 34% 0.7
  Tucson 2,043 2,145 17% (19,100) (5.0%) 7.1% $175,000 34% 4.4
  Yuma 742 780 29% (3,000) (5.6%) 23.3% $163,000 38% 5.6
Arkansas
  Fayetteville 947 2,165 29% (1,600) (0.8%) 5.5% $110,384 17% 0.4
  Fort Smith 484 709 54% (1,900) (1.5%) 7.5% $77,563 15% 0.4
  Little Rock 1,551 3,081 54% (6,800) (1.9%) 5.9% $129,120 19% 0.8
California
  Bakersfield 1,262 1,811 20% (5,100) (2.1%) 14.2% $119,000 23% 1.1
  Chico 447 493 25% (3,000) (3.9%) 12.4% $218,000 44% 5.1
  El Centro 248 303 14% (2,500) (5.3%) 26.8% $99,000 22% 0.3
  Fresno 2,061 2,353 32% (12,000) (3.9%) 15.4% $137,500 27% 1.3
  Hanford 180 317 24% (1,200) (3.2%) 14.4% $130,000 25% 2.6
  Los Angeles (D) 2,374 8,282 12% (183,600) (4.5%) 11.4% $298,000 47% 2.2
  Madera 164 221 10% (700) (2.0%) 13.7% $125,000 27% 1.2
  Merced 93 93 3% (1,700) (2.9%) 17.3% $102,000 20% 0.3
  Modesto 330 353 6% (6,200) (3.9%) 16.3% $135,000 23% 0.6
  Monterey 147 351 13% (4,200) (3.2%) 10.4% $191,000 29% 0.2
  Napa 200 214 21% (4,400) (6.7%) 8.3% $350,000 44% 2.9
  Oakland (D) 1,684 3,361 15% (44,500) (4.3%) 10.4% $251,750 30% 0.5
  Orange County (D) 1,105 1,802 7% (71,100) (4.7%) 8.6% $475,000 54% 5.1
  Redding 308 474 20% (3,800) (6.0%) 15.1% $180,000 34% 3.2
  Riverside-San Bernardino 4,888 7,120 12% (77,900) (6.3%) 13.0% $156,000 24% 0.4
  Sacramento 3,288 4,563 19% (46,200) (5.2%) 11.1% $204,000 29% 1.6
  San Diego 2,081 4,133 9% (52,200) (4.0%) 9.4% $325,000 45% 2.3
  San Francisco (D) 442 1,870 28% (46,600) (4.7%) 8.6% $667,000 75% 4.9
  San Jose 752 2,327 23% (40,100) (4.4%) 11.2% $456,000 46% 2.7
  San Luis Obispo 390 487 14% (3,400) (3.2%) 8.4% $374,500 62% 5.3
  Santa Barbara 198 262 10% (4,300) (2.5%) 7.6% $250,000 39% 0.7
  Santa Cruz 153 255 18% (4,900) (5.1%) 10.7% $410,000 54% 1.7
  Santa Rosa 518 546 9% (9,100) (4.8%) 9.5% $321,000 43% 1.9
  Stockton 643 648 9% (6,700) (3.2%) 15.0% $150,000 24% 0.5
  Vallejo-Fairfield 340 579 9% (5,000) (4.0%) 10.7% $194,000 26% 0.8
  Ventura 276 507 7% (16,400) (5.6%) 9.5% $400,000 45% 4.0
  Visalia-Porterville 1,006 1,109 31% (4,200) (3.7%) 14.3% $122,000 24% 0.8
  Yuba-Sutter 188 190 6% (1,900) (4.6%) 17.7% $152,000 29% 1.4
Colorado
  Boulder 262 938 18% (6,900) (4.0%) 6.0% $290,860 32% 2.7
  Colorado Springs 1,263 1,701 15% (10,300) (3.9%) 7.7% $175,900 23% 1.1
  Denver 3,028 5,669 20% (49,200) (3.9%) 7.5% $206,150 26% 2.7
  Fort Collins 444 776 21% (3,700) (2.6%) 6.1% $206,000 26% 1.0
  Grand Junction 502 514 25% 200 0.3% 8.1% $158,782 26% 1.8
  Greeley 691 806 18% (2,500) (3.0%) 8.2% $146,450 19% 0.5
  Pueblo 237 337 24% (1,400) (2.4%) 8.1% $86,452 16% 0.3
Connecticut
  Bridgeport 463 1,495 28% (13,000) (3.1%) 7.5% $345,783 34% 0.2
  Hartford 887 1,351 13% (11,100) (2.0%) 7.9% $223,166 28% 0.6
  New Haven 468 706 10% (5,100) (1.8%) 7.8% $220,723 30% 0.8
Delaware
  Dover 715 722 33% (2,100) (3.2%) 7.8% $203,319 35% 6.4
  Wilmington (D) 912 1,144 18% (14,400) (4.1%) 8.4% $203,493 29% 3.3
District of Columbia
  Washington D.C. (D) 7,498 10,448 28% (31,300) (1.3%) 6.4% $261,406 25% 0.9
Florida
  Daytona Beach 749 900 11% (6,100) (3.6%) 10.8% $116,700 23% 1.7
  Fort Lauderdale (D) 612 1,660 9% (34,700) (4.4%) 8.8% $170,000 27% 0.9
  Fort Myers 929 1,130 4% (18,400) (8.4%) 12.4% $84,400 14% 0.2
  Fort Walton Beach 308 1,028 28% (2,400) (2.9%) 6.9% $173,960 26% 1.3
  Gainesville 342 771 23% (3,300) (2.5%) 6.7% $151,453 34% 2.4
  Jacksonville 3,854 6,052 24% (28,800) (4.6%) 9.7% $155,000 25% 4.4
  Lakeland 1,567 2,201 17% (9,300) (4.4%) 10.8% $105,000 21% 1.6
  Melbourne 976 1,388 14% (10,300) (4.9%) 10.2% $124,000 22% 2.1
  Miami (D) 679 2,241 9% (44,100) (4.2%) 9.6% $175,000 35% 2.7
  Naples 594 800 10% (7,800) (6.2%) 10.0% $205,000 30% 1.8
  Ocala 685 717 10% (4,500) (4.3%) 12.1% $113,000 23% 3.3
  Orlando 3,984 6,498 18% (64,200) (5.9%) 10.2% $140,000 24% 1.7
  Panama City 329 627 11% (3,200) (4.1%) 8.6% $151,752 28% 2.7
  Pensacola 861 953 15% (7,000) (4.1%) 9.1% $128,048 24% 0.4
  Port St. Lucie 519 720 7% (7,100) (5.5%) 12.3% $112,700 19% 0.4
  Sarasota 1,266 1,540 11% (18,500) (6.7%) 10.9% $149,000 26% 2.0
  Tallahassee 732 934 22% (4,900) (2.8%) 7.1% $149,638 31% 0.9
  Tampa 4,129 8,279 22% (53,900) (4.4%) 10.6% $126,500 24% 2.3
  West Palm Beach (D) 912 1,444 6% (23,000) (4.2%) 10.2% $215,000 33% 4.0
Georgia
  Albany 186 235 19% (2,200) (3.4%) 9.1% $87,960 20% 0.9
  Athens 371 415 18% (1,400) (1.6%) 6.9% $131,029 27% 0.8
  Atlanta 7,100 11,639 16% (136,800) (5.6%) 9.6% $115,532 16% 0.4
  Augusta 1,848 1,967 36% (6,100) (2.8%) 9.3% $110,841 20% 1.0
  Columbus 791 1,022 46% (2,800) (2.3%) 8.6% $104,578 21% 0.7
  Dalton 150 208 19% (6,600) (8.8%) 12.6% $100,023 20% 0.5
  Gainesville 245 563 22% (3,600) (4.6%) 8.9% $139,308 25% 1.8
  Macon 455 523 28% (5,200) (5.0%) 9.2% $94,830 19% 0.5
  Savannah 1,249 1,443 30% (4,900) (3.0%) 8.0% $140,539 26% 3.6
  Valdosta 582 660 45% (1,700) (3.0%) 7.5% $103,687 24% 1.1
  Warner Robins 596 720 34% (700) (1.2%) 6.8% $95,803 16% 0.5
Hawaii
  Honolulu 716 1,175 24% (11,200) (2.4%) 6.0% $557,786 68% 4.7
Idaho
  Boise City 1,583 1,979 17% (21,100) (7.7%) 8.5% $154,334 23% 0.8
  Coeur D'Alene 660 731 27% (1,800) (3.1%) 7.9% $162,563 29% 4.0
Illinois
  Bloomington 277 469 28% (500) (0.5%) 6.0% $161,307 26% 1.8
  Champaign-Urbana 372 849 39% 1,000 0.9% 6.7% $145,662 28% 4.7
  Chicago (D) 3,894 7,582 17% (185,900) (4.8%) 10.7% $195,000 28% 1.8
  Decatur 163 442 74% (2,000) (3.6%) 10.0% $84,080 17% 2.0
  Lake-Kenosha (D) 708 777 12% (17,200) (4.2%) 8.7% $231,545 28% 1.5
  Peoria 659 818 42% (5,200) (2.7%) 8.9% $114,665 20% 4.5
  Rockford 253 360 14% (5,400) (3.4%) 13.4% $103,238 18% 3.9
  Springfield 239 416 27% (2,900) (2.6%) 6.3% $115,142 20% 2.7
Indiana
  Bloomington 265 503 41% 500 0.6% 7.1% $123,580 26% 1.5
  Elkhart-Goshen 230 378 23% (16,800) (13.4%) 17.5% $107,876 19% 1.5
  Evansville 527 730 34% (6,000) (3.3%) 8.7% $88,406 17% 1.0
  Fort Wayne 707 892 24% (10,200) (4.6%) 10.9% $84,831 15% 0.6
  Gary (D) 977 1,067 23% (5,900) (2.1%) 10.2% $96,992 16% 1.0
  Indianapolis 3,740 6,190 36% (37,000) (4.0%) 8.5% $99,387 16% 0.4
  Lafayette 424 522 29% (200) (0.2%) 8.8% $106,004 21% 1.0
  Muncie 59 63 11% (1,400) (2.6%) 10.8% $72,912 17% 0.6
  South Bend 293 730 37% (3,600) (2.5%) 11.1% $65,908 12% 0.6
  Terre Haute 127 195 28% (2,100) (2.9%) 10.5% $73,191 16% 0.6
Iowa
  Cedar Rapids 673 935 46% (1,800) (1.3%) 5.4% $132,395 23% 4.1
  Davenport 363 410 27% (2,600) (1.4%) 6.9% $104,171 19% 3.5
  Des Moines 1,547 2,291 36% (4,200) (1.3%) 5.0% $141,674 21% 1.4
  Dubuque 215 231 27% (2,200) (3.9%) 5.9% $110,774 19% 1.2
  Iowa City 541 761 45% (1,700) (1.8%) 3.7% $145,514 25% 0.8
  Sioux City 106 118 10% (1,700) (2.2%) 5.0% $85,209 16% 1.0
  Waterloo 325 331 39% (1,800) (2.0%) 4.7% $102,354 19% 3.7
Kansas
  Topeka 373 390 28% (2,100) (1.9%) 6.5% $110,830 19% 3.8
  Wichita 1,478 2,323 51% (6,500) (2.1%) 8.3% $114,008 20% 2.9
Kentucky
  Bowling Green 316 512 37% (3,300) (5.3%) 10.6% $105,842 23% 1.4
  Lexington 1,262 2,378 46% (9,200) (3.6%) 8.3% $135,789 27% 3.7
  Louisville 1,967 2,983 33% (29,500) (4.7%) 10.2% $123,135 25% 3.6
Louisiana
  Alexandria 300 352 37% (800) (1.2%) 5.9% $90,551 18% 0.0
  Baton Rouge 2,264 2,711 30% 1,300 0.3% 6.0% $153,553 25% 1.0
  Houma 485 785 66% (500) (0.5%) 4.3% $109,498 18% 0.6
  Lafayette 698 869 17% (1,700) (1.1%) 5.0% $123,595 22% 0.7
  Lake Charles 944 1,063 71% (2,500) (2.6%) 5.9% $103,381 18% 0.7
  Monroe 271 280 23% (2,000) (2.5%) 7.5% $92,752 19% 0.7
  New Orleans 2,284 3,654 28% (3,800) (0.7%) 6.0% $152,864 24% 0.7
  Shreveport 906 1,123 37% (1,700) (0.9%) 6.8% $138,980 27% 4.0
Maine
  Bangor 250 347 35% (1,600) (2.4%) 7.4% $117,477 22% 0.6
  Portland 938 1,117 19% (6,000) (3.1%) 6.4% $191,368 28% 0.6
Maryland
  Baltimore 2,736 5,023 26% (39,200) (2.9%) 7.6% $245,040 33% 6.8
  Bethesda (D) 1,451 1,716 14% (4,000) (0.7%) 5.4% $350,500 34% 5.0
  Hagerstown 709 835 20% (2,900) (2.8%) 9.8% $168,494 25% 1.0
  Salisbury 166 269 21% (2,300) (4.1%) 8.5% $143,609 27% 2.2
Massachusetts
  Barnstable Town 346 440 9% (5,100) (5.0%) 7.8% $279,606 37% 0.5
  Boston (D) 997 3,164 30% (45,300) (2.6%) 7.1% $295,241 36% 1.3
  Cambridge (D) 958 1,853 25% (68,900) (2.7%) 7.5% $329,556 35% 0.7
Michigan
  Ann Arbor 230 279 10% (6,800) (3.5%) 9.1% $161,945 23% 0.5
  Battle Creek 33 33 5% (3,800) (6.4%) 12.7% $83,127 16% 0.7
  Detroit (D) 368 630 10% (47,900) (6.2%) 16.0% $85,741 17% 0.4
  Flint 116 163 5% (6,500) (4.5%) 16.5% $80,948 16% 0.5
  Grand Rapids 782 800 16% (22,100) (5.6%) 11.7% $72,439 12% 0.2
  Holland 422 590 22% (10,000) (8.8%) 12.9% $133,108 20% 0.7
  Jackson 79 178 18% (3,600) (6.1%) 14.1% $91,080 18% 2.1
  Kalamazoo 382 477 19% (6,800) (4.7%) 10.8% $110,254 21% 0.7
  Lansing 222 305 10% (8,900) (3.9%) 11.3% $70,145 12% 0.3
  Muskegon 129 146 15% (4,200) (6.4%) 15.8% $85,228 17% 0.8
  Niles 146 205 25% (4,100) (6.2%) 12.8% $115,684 23% 3.4
  Saginaw 116 138 14% (3,700) (4.2%) 13.5% $30,969 7% 0.2
  Warren (D) 1,112 1,227 6% (106,600) (9.2%) 14.1% $146,813 20% 0.5
Minnesota
  Duluth 526 651 38% (4,700) (3.5%) 9.4% $109,828 22% 5.9
  Minneapolis 3,598 5,074 18% (62,100) (3.4%) 7.8% $177,464 24% 1.7
  Rochester 397 591 29% (300) (0.3%) 6.4% $129,658 18% 1.1
  St. Cloud 311 514 26% (1,400) (1.3%) 7.7% $129,657 22% 2.5
Mississippi
  Gulfport-Biloxi 1,598 3,050 56% (3,300) (3.0%) 7.8% $132,810 27% 3.8
  Hattiesburg 180 707 63% (1,100) (1.8%) 7.3% $93,190 21% 0.8
  Jackson 1,481 1,531 34% (4,500) (1.7%) 7.6% $124,533 24% 1.2
  Pascagoula 627 669 39% (4,900) (7.9%) 8.4% $106,268 20% 1.5
Missouri
  Columbia 416 532 23% (1,100) (1.2%) 5.7% $153,221 31% 4.4
  Jefferson City 218 242 21% (2,700) (3.3%) 6.9% $104,446 19% 1.5
  Joplin 160 224 30% (800) (1.0%) 7.4% $80,454 20% 1.1
  Kansas City 1,900 3,309 18% (17,500) (1.7%) 8.6% $131,251 20% 0.7
  Springfield 715 1,562 31% (4,600) (2.3%) 8.0% $116,326 25% 2.4
  St. Joseph 119 129 30% (1,000) (1.7%) 8.0% $86,211 18% 1.3
  St. Louis 3,845 4,733 26% (45,200) (3.3%) 9.0% $171,706 30% 5.5
Montana
  Billings 463 477 33% (2,200) (2.7%) 4.1% $127,017 21% 0.8
  Missoula 245 285 25% (1,100) (2.0%) 5.6% $175,172 32% 2.2
Nebraska
  Lincoln 593 710 26% (1,700) (1.0%) 4.2% $134,593 21% 2.1
  Omaha 3,086 4,142 63% (10,200) (2.2%) 4.6% $131,986 20% 1.4
Nevada
  Las Vegas 4,385 10,037 26% (58,600) (6.3%) 11.1% $140,000 21% 0.3
  Reno 643 1,294 20% (18,000) (8.3%) 11.2% $179,000 27% 0.5
New Hampshire
  Manchester 378 528 7% (1,000) (1.0%) 6.3% $216,425 21% 0.4
New Jersey
  Atlantic City 498 560 14% (7,600) (5.1%) 11.3% $203,195 34% 4.6
  Camden (D) 1,417 2,188 26% (19,000) (3.5%) 8.8% $196,590 27% 4.0
  Edison (D) 2,464 3,946 16% (46,200) (4.4%) 8.1% $320,023 39% 6.3
  Newark-Union (D) 1,503 3,218 35% (20,000) (1.9%) 8.4% $358,607 46% 4.9
  Trenton 268 334 9% (7,100) (2.9%) 7.4% $256,563 35% 4.6
  Vineland 264 272 37% (800) (1.3%) 11.6% $141,449 27% 4.3
New Mexico
  Albuquerque 1,535 1,899 21% (11,600) (2.9%) 6.7% $208,019 34% 3.7
  Las Cruces 804 1,067 43% (1,900) (2.7%) 6.5% $109,247 23% 0.6
  Santa Fe 107 107 8% (1,300) (2.0%) 5.5% $227,147 33% 0.6
New York
  Albany 1,127 1,758 33% (11,300) (2.5%) 6.8% $185,649 29% 3.4
  Binghamton 222 222 17% (3,200) (2.7%) 7.9% $116,236 23% 3.9
  Buffalo 917 1,455 31% (13,800) (2.5%) 8.3% $104,509 21% 1.6
  Glens Falls 293 334 21% (2,300) (4.1%) 7.5% $167,973 34% 4.7
  Ithaca 111 136 21% (200) (0.3%) 5.4% $151,248 30% 3.0
  Kingston 252 499 35% (1,100) (1.7%) 7.5% $194,111 31% 2.4
  Nassau (D) 1,439 2,004 18% (35,600) (2.8%) 6.9% $360,254 36% 4.9
  New York (D) 1,658 30,079 72% (131,100) (2.5%) 8.5% $424,868 66% 4.8
  Poughkeepsie 823 1,567 30% (5,400) (2.1%) 7.6% $220,821 29% 1.9
  Rochester 1,257 1,880 36% (5,600) (1.1%) 7.7% $113,880 20% 2.6
  Syracuse 777 941 27% (3,800) (1.2%) 8.0% $124,416 23% 4.1
  Utica-Rome 222 250 19% (1,400) (1.0%) 7.2% $104,515 23% 3.1
North Carolina
  Asheville 1,318 2,173 50% (8,100) (4.5%) 9.2% $170,328 34% 3.9
  Burlington 510 514 25% (2,900) (4.7%) 12.2% $109,887 22% 0.7
  Charlotte 4,810 9,024 36% (52,000) (6.0%) 12.0% $150,500 24% 2.4
  Durham 1,605 2,299 35% (6,600) (2.3%) 8.1% $172,830 30% 3.7
  Fayetteville 1,552 2,460 57% (2,700) (2.1%) 9.2% $103,380 20% 0.8
  Greensboro 1,531 2,600 41% (23,300) (6.3%) 11.9% $134,450 26% 1.0
  Greenville 404 962 37% (1,800) (2.3%) 11.0% $104,735 22% 0.6
  Hickory 703 723 30% (12,000) (7.5%) 15.4% $105,749 22% 1.1
  Raleigh-Cary 4,678 8,418 48% (18,300) (3.5%) 8.9% $195,000 28% 3.2
  Rocky Mount 275 279 27% (2,300) (3.5%) 14.2% $90,595 19% 0.5
  Wilmington 1,959 2,407 26% (7,100) (4.7%) 10.0% $188,267 35% 3.4
  Winston-Salem 947 1,249 28% (7,600) (3.5%) 10.5% $119,222 21% 0.6
North Dakota
  Bismarck 416 542 50% 700 1.1% 3.5% $153,024 21% 3.1
  Fargo 719 1,134 40% 800 0.6% 4.4% $136,767 21% 1.0
  Grand Forks 149 309 46% (100) (0.2%) 4.6% $118,575 20% 0.8
Ohio
  Akron 772 886 22% (7,400) (2.2%) 9.8% $114,000 19% 2.6
  Canton 314 383 25% (6,200) (3.6%) 11.3% $71,886 13% 0.4
  Cincinnati 2,777 3,263 21% (43,900) (4.2%) 9.4% $118,000 17% 1.1
  Cleveland 1,889 2,319 29% (52,800) (4.9%) 10.0% $76,143 12% 0.2
  Columbus 2,396 4,020 24% (18,200) (1.9%) 8.3% $137,706 20% 2.3
  Dayton 898 1,030 25% (13,800) (3.5%) 11.2% $84,895 14% 0.3
  Lima 103 112 22% (1,100) (2.0%) 11.4% $88,459 15% 0.6
  Mansfield 69 76 13% (2,800) (4.9%) 13.1% $87,274 17% 0.7
  Springfield 71 101 15% (1,200) (2.3%) 10.2% $90,324 16% 0.6
  Toledo 528 972 24% (22,300) (6.9%) 13.1% $69,459 12% 0.3
  Youngstown 272 411 22% (13,800) (5.8%) 12.8% $52,820 10% 0.3
Oklahoma
  Oklahoma City 3,029 3,315 15% (6,000) (1.0%) 5.7% $128,024 20% 1.0
  Tulsa 2,537 3,572 29% (8,000) (1.8%) 6.6% $130,765 20% 0.6
Oregon
  Bend 499 547 12% (2,800) (4.0%) 15.2% $181,727 27% 1.6
  Eugene 449 581 21% (8,000) (5.1%) 12.9% $206,181 37% 5.7
  Medford 327 400 19% (3,100) (3.8%) 13.7% $170,658 32% 2.5
  Portland 3,213 5,400 27% (51,600) (4.9%) 11.6% $240,000 35% 5.7
  Salem 421 613 18% (7,900) (5.2%) 11.5% $185,000 31% 5.5
Pennsylvania
  Allentown 1,216 1,460 27% (10,500) (3.0%) 8.7% $228,794 35% 6.1
  Altoona 164 180 36% (2,300) (3.7%) 7.3% $96,648 19% 1.1
  Erie 225 380 37% (5,900) (4.4%) 9.0% $89,322 18% 0.5
  Harrisburg 1,114 1,343 36% (11,200) (3.3%) 7.1% $145,040 23% 3.0
  Johnstown 98 247 66% (2,000) (3.2%) 8.6% $80,765 19% 2.3
  Lancaster 977 1,261 35% (10,500) (4.4%) 7.1% $163,544 25% 2.9
  Philadelphia (D) 3,437 4,473 25% (54,700) (2.8%) 8.0% $209,856 30% 4.8
  Pittsburgh 2,921 3,257 46% (33,600) (2.9%) 7.3% $110,728 20% 0.9
  Reading 426 470 22% (7,000) (4.0%) 9.1% $149,832 24% 4.3
  Scranton 573 617 28% (8,600) (3.3%) 8.9% $121,541 24% 3.4
  State College 336 393 36% (2,800) (3.7%) 5.6% $153,807 30% 3.0
  Williamsport 96 168 32% (2,400) (4.4%) 9.1% $108,450 23% 2.3
  York 959 1,003 32% (5,800) (3.1%) 8.3% $156,177 24% 2.8
Rhode Island
  Providence 1,140 1,414 12% (26,000) (4.5%) 12.0% $201,685 31% 0.5
South Carolina
  Anderson 336 360 19% (2,300) (3.6%) 12.5% $101,295 18% 0.7
  Charleston 2,835 3,789 35% (9,000) (2.9%) 9.4% $191,250 30% 2.2
  Columbia 2,637 3,746 46% (6,800) (1.8%) 9.2% $127,500 20% 1.6
  Florence 366 514 39% (1,200) (1.3%) 12.2% $101,137 19% 0.7
  Greenville 1,664 1,784 32% (10,700) (3.3%) 10.3% $136,000 25% 4.8
  Myrtle Beach 1,365 2,244 19% (8,700) (6.7%) 11.4% $171,647 31% 1.3
  Spartanburg 732 760 28% (3,700) (2.9%) 12.3% $113,475 21% 1.2
South Dakota
  Rapid City 373 389 28% (1,000) (1.6%) 4.8% $121,114 20% 1.4
  Sioux Falls 830 1,751 70% (1,300) (0.9%) 4.8% $98,250 14% 1.0
Tennessee
  Chattanooga 1,068 1,234 32% (7,900) (3.2%) 9.3% $119,017 24% 1.2
  Clarksville 1,075 1,364 42% (3,100) (3.7%) 10.3% $97,291 19% 0.9
  Jackson 242 298 27% (2,800) (4.5%) 10.7% $88,129 20% 0.9
  Johnson City 437 510 35% (2,300) (2.8%) 9.3% $109,857 27% 1.4
  Kingsport 497 548 36% (4,200) (3.4%) 9.8% $107,860 26% 2.0
  Knoxville 1,536 2,037 32% (13,700) (4.1%) 8.8% $142,141 28% 1.9
  Memphis 1,677 2,509 23% (15,700) (2.5%) 9.7% $99,073 19% 0.3
  Nashville 4,206 6,624 36% (29,800) (3.9%) 9.3% $145,000 24% 3.2
Texas
  Abilene 163 163 8% (1,200) (1.8%) 5.2% $104,500 20% 3.9
  Amarillo 439 697 19% (1,500) (1.3%) 4.7% $129,500 24% 4.5
  Austin 6,411 9,304 35% 4,200 0.5% 6.1% $191,700 28% 4.7
  Beaumont 1,556 2,807 100% (5,600) (3.4%) 9.1% $139,200 26% 5.3
  Brownsville 856 1,044 27% (2,900) (2.3%) 9.0% $86,000 23% 3.9
  College Station 707 1,839 52% (1,800) (1.9%) 4.9% $149,400 31% 3.3
  Corpus Christi 971 1,013 17% (4,500) (2.4%) 6.6% $122,200 25% 0.0
  Dallas (D) 9,435 21,372 29% (52,100) (2.5%) 7.2% $165,300 24% 3.5
  El Paso 2,706 3,472 54% (3,400) (1.2%) 8.3% $126,800 30% 4.5
  Fort Worth (D) 5,680 7,129 19% (10,400) (1.2%) 7.1% $113,800 17% 2.4
  Houston 21,921 32,034 43% (56,300) (2.2%) 6.9% $156,000 24% 4.0
  Killeen 1,786 2,032 44% 1,100 0.9% 6.1% $121,943 22% 3.5
  Laredo 628 1,008 42% (300) (0.3%) 7.8% $88,749 21% 0.5
  Longview 177 200 13% (2,200) (2.2%) 6.9% $132,600 26% 5.1
  Lubbock 897 933 22% (800) (0.6%) 4.6% $111,400 23% 1.5
  McAllen 2,829 3,153 34% 300 0.1% 9.4% $96,800 25% 1.2
  Midland 347 347 9% 700 1.0% 5.2% $123,652 21% 3.5
  Odessa 188 650 31% 1,100 1.8% 7.8% $138,000 27% 4.5
  San Antonio 5,271 7,335 33% (6,900) (0.8%) 5.8% $150,700 26% 5.0
  Texarkana 285 323 38% (600) (1.0%) 5.8% $77,639 15% 0.4
  Tyler 207 290 10% 800 0.8% 7.0% $132,700 24% 3.1
  Waco 374 666 22% (1,400) (1.3%) 6.0% $114,600 24% 2.8
  Wichita Falls 159 161 18% (1,700) (2.8%) 6.7% $97,700 20% 3.3
Utah
  Ogden-Clearfield 1,270 1,566 31% (7,000) (3.4%) 5.2% $145,958 24% 2.9
  Provo-Orem 987 1,188 18% (8,400) (4.5%) 4.8% $164,582 29% 3.1
  Salt Lake City 1,459 4,698 38% (21,300) (3.3%) 5.2% $227,738 38% 6.3
  St. George 540 542 14% (1,700) (3.2%) 6.7% $154,273 31% 0.6
Virginia
  Charlottesville 682 703 27% (2,900) (2.8%) 5.9% $211,680 32% 1.7
  Harrisonburg 512 808 55% 100 0.2% 6.5% $169,205 31% 3.0
  Lynchburg 680 696 38% 100 0.1% 7.7% $135,050 26% 1.5
  Richmond 2,976 3,746 33% (21,000) (3.3%) 8.1% $218,000 34% 5.3
  Roanoke 489 489 25% (3,600) (2.2%) 7.5% $141,342 26% 1.7
  Virginia Beach 2,892 5,219 22% (6,900) (0.9%) 7.0% $199,469 31% 4.4
  Winchester 373 373 21% (2,600) (4.6%) 8.2% $153,035 25% 0.4
Washington
  Bellingham 441 507 20% (3,200) (3.7%) 8.4% $221,669 38% 4.7
  Bremerton 584 603 23% (4,200) (4.9%) 8.2% $240,000 32% 5.1
  Kennewick 929 969 30% 700 0.7% 7.2% $165,165 26% 4.8
  Olympia 994 1,197 37% (1,300) (1.2%) 8.0% $230,000 32% 5.7
  Seattle (D) 3,621 9,028 33% (55,400) (3.7%) 8.4% $345,500 42% 5.7
  Spokane 973 1,917 44% (8,500) (3.8%) 9.1% $165,000 29% 5.3
  Tacoma (D) 1,350 2,028 30% (9,000) (3.2%) 10.2% $224,950 31% 4.2
  Yakima 521 664 54% (3,000) (3.8%) 9.3% $147,645 28% 3.1
West Virginia
  Charleston 259 549 65% (1,700) (1.1%) 7.5% $124,216 23% 0.9
  Huntington 94 146 23% (800) (0.7%) 8.0% $85,816 19% 0.8
  Morgantown 33 121 46% (400) (0.6%) 5.4% $119,221 24% 0.5
  Parkersburg 122 182 42% (1,300) (1.8%) 9.5% $83,656 16% 0.4
  Wheeling 37 37 13% (800) (1.2%) 8.6% $76,184 15% 0.5
Wisconsin
  Appleton 437 555 26% (3,900) (3.3%) 8.6% $111,588 18% 1.5
  Eau Claire 287 446 31% (2,000) (2.4%) 7.1% $112,088 21% 2.9
  Green Bay 509 656 21% (4,700) (2.8%) 8.4% $140,126 24% 3.6
  Janesville 168 195 15% (3,300) (4.8%) 12.9% $112,160 20% 3.4
  La Crosse 264 277 33% (2,300) (3.0%) 6.8% $116,880 22% 2.3
  Madison 677 1,441 24% (9,700) (2.8%) 6.2% $213,850 31% 5.1
  Milwaukee 972 1,760 21% (44,800) (5.2%) 9.0% $210,322 35% 5.7
  Oshkosh-Neenah 337 446 31% (1,900) (2.0%) 8.0% $111,356 19% 1.2
  Racine 218 367 29% (3,300) (4.1%) 10.2% $141,290 23% 4.6
  Sheboygan 89 155 21% (3,200) (4.9%) 9.5% $126,263 23% 5.0
  Wausau 212 434 31% (3,400) (4.7%) 9.2% $117,654 19% 2.9
Wyoming
  Cheyenne 131 149 17% (700) (1.5%) 4.9% $121,867 18% 0.4
 
* The government defines metro areas and includes metro divisions within some areas. In these instances, we report at the more detailed division level, because that is what most of our clients use for decision making. For example, we report on the Los Angeles and Orange County divisions separately, rather than the Los Angeles MSA, which includes both Los Angeles and Orange counties. We also use the more colloquial names used by business people, so we refer to the "Santa Ana-Anaheim-Irvine" division as "Orange County." For the government definitions, visit: http://www.census.gov/population/www/metroareas/lists/2007/List1.txt


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About John Burns Real Estate Consulting

Lesley Deutch, a Vice President at John Burns Real Estate Consulting, was the author of this newsletter.

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