Washoe County. Quarterly Revenue and Economic Review
|
|
- Carol Lawson
- 5 years ago
- Views:
Transcription
1 Washoe County S p e c i a l p o i n t s o f i n t e r e s t : Property taxes were 5.3% lower than they were in the previous year Single Family Home permits were up 28.5% from last year Consolidated Taxes grew by 2.6% in FY 11/12 Average unemployment was still high at 12.3% Quarterly Revenue and Economic Review Y e a r E n d ( / ) This quarterly update focuses on the top two revenue sources for Washoe County Property Tax and Consolidated Taxes, and the economic indicators that have the highest potential impact on these revenue sources. Property Taxes The total General Fund property tax revenue received for FY 11/12 was 5.3% lower than the amount collected in the previous year. The $139.9 million in revenue was only 0.5% lower than the budgeted amount of $140.7 million. O c t o b e r 1 9, Economic indicators that impact property taxes include: Median single family sales price Housing inventory Single family residential (SFR) building permits I n s i d e t h i s i s s u e : Notice of defaults Property Taxes 2 Median Home Prices 2 Housing Inventory 2 Building Permits 3 Notice of Defaults 3 Consolidated Taxes 4 Taxable Sales 4 Consumer Price Index 5 Employment 5 Occupancy Rates 6 Consolidated Taxes C-Tax revenue for FY 11/12 totaled almost $71 million. This is 2.6% more than was collected in FY 10/11 and almost 1.8 million above the budgeted amount of $69 million. $100 $80 $60 $40 $20 $- Consolidated Tax Revenue (in Millions of Dollars) $91.17 $76.79 $68.51 $69.33 $70.99 FY 07/08 FY08/09 FY 09/10 FY 10/11 FY 11/12 Economic indicators that impact consolidated taxes include: Taxable Sales Consumer Price Index (CPI) Employment & unemployment Hotel occupancy rates
2 P a g e 2 Property Tax Revenue Washoe County received $139.9 million in general fund property tax revenue in FY 11/12. This is 5.3% lower than FY 10/11, but only $758,000 less, or 0.5% than budgeted. Some economic indicators that affect property tax revenue are detailed in the following pages. General Fund Property Taxes FY 11/12 Actual $39,747,652 $32,430,953 $61,298,607 $6,437,211 $139,914,423 FY 10/11 Actual $41,098,398 $34,557,165 $65,328,418 $9,779,268 $147,763,249 % Change Y-O-Y -3.3% -6.2% -6.2% -5.0% -5.3% Due to the billing cycle, most property taxes are collected by the 3rd quarter. % of General Fund Property Taxes Realized by Quarter FY 11/12 Actual 28.3% 23.1% 43.6% 4.6% 99.5% FY 10/11 Actual 27.9% 23.5% 44.4% 4.6% 100.4% % Change Y-O-Y 1.2% -1.8% -1.8% -0.6% -0.9% Median Single Family Home Prices Sales prices have a direct impact on taxable values, which in turn help determine property taxes. In the 2nd quarter, when most assessments are completed, the decrease in median value was 12.2%. However, during the last quarter of the fiscal year, Washoe County saw an increase in the median home price (both quarter-over-quarter and year-over-year). Washoe County Median Single Family Home Prices FY 11/12 $158,750 $155,000 $150,000 $165,400 $157,288 FY 10/11 $180,000 $176,500 $166,000 $157,000 $169,875 The National Association of REALTORS describes a balanced market as between 5 and 7 months supply of inventory. % Change Y-O-Y -11.8% -12.2% -9.6% 5.4% -7.4% Housing Inventory Part of the increase in housing prices may be due to the decline in housing inventory, which has dropped by almost 30% year-over-year. Washoe County Supply of Housing Inventory (in months) FY 11/ FY 10/ % Change Y-O-Y -24.1% -27.0% -34.8% -34.0% -29.8% W a s h o e C o u n t y
3 Y e a r E n d ( / ) P a g e 3 Single Family Residential (SFR) Building Permits Three to six months after SFR building permits are issued, these new properties help replenish the housing inventory in the County. In general, the more permits issued, the healthier the housing market is. However, if there are too many properties on the market, prices (and therefore taxable values) could decline. Building permits for SFR units are on the rise in Washoe County, possibly due to an increased demand for housing and a diminishing inventory. In the 4th quarter alone, they were up almost 82% from the 4th quarter in the previous year. Year-overyear, permits were up 28.5%. Currently, supply is lower than it has been in years and builders are trying to capitalize on the shortage of supply. In the 4th quarter alone [SFR permits] were up 82% from the 4th quarter in the previous year. Single Family Residential Permits FY 11/12 Actual FY 10/11 Actual % Change Y-O-Y 13.1% 48.2% -17.8% 81.8% 28.5% Notice of Defaults Notice of defaults were down 68.6% from FY 10/11 to FY 11/12. Much of this reduction may be due to the impact of AB 284 which went into effect on October 1, AB 284 changed Nevada foreclosure law by adding stricter requirements for the foreclosure process. However, notices have been on the rise lately as banks become better at navigating the new law. An increase in notice of defaults usually foretells an increase in inventory of distressed properties within 1 to 6 months, and an increase in distressed properties can put downward pressure on housing prices. Notice of Defaults FY 11/12 Actual 1, ,095 FY 10/11 Actual 2,085 1,719 1,588 1,281 6,673 % Change Y-O-Y -19.3% -96.7% -91.4% -82.8% -68.6%
4 P a g e 4 Consolidated Taxes (C-Tax): The total C-Tax revenue for Washoe County during the 4th quarter was $18 million. This was 2.9%, or about $515,000 more than was collected in the 4th quarter of the previous year. Overall, C-Tax revenue was 2.4% higher than the previous year and 2.6% above the budgeted amount for FY 11/12. Some economic indicators that affect C-Tax are detailed in the following pages. Consolidated Taxes FY 11/12 Actual $17,837,800 $18,321,561 $16,812,886 $18,013,181 $70,985,427 Consolidated Tax is composed of sales tax, liquor tax, cigarette tax, real estate property transfer tax, and government services tax. FY 10/11 Actual $18,249,111 $17,920,411 $15,663,277 $17,498,033 $69,330,862 % Change Y-O-Y -2.3% 2.2% 7.3% 2.9% 2.4% The Jul-Sept amount for FY 10/11 includes an additional $184,957 for a prior year adjustment from the State. % of Consolidated Taxes Realized by Quarter FY 11/12 Actual 25.8% 26.5% 24.3% 26.0% 102.6% FY 10/11 Actual 27.6% 27.1% 23.7% 26.4% 104.7% % Change Y-O-Y -6.5% -2.2% 2.7% -1.5% -2.0% Washoe County Taxable Sales Washoe County taxable sales were up by 4.5% during FY 11/12 as compared to the previous fiscal year. While the 2nd quarter showed the strongest growth (year-overyear) at 8.5%, every quarter was stronger than the previous year. In total, taxable sales increased by almost $240 million in Washoe County from FY 10/11 to FY 11/12. Washoe County Taxable Sales (in millions) FY 11/12 $1,380 $1,484 $1,260 $1,398 $5,522 FY 10/11 $1,369 $1,368 $1,186 $1,360 $5,283 % Change Y-O-Y 0.8% 8.5% 6.3% 2.8% 4.5% W a s h o e C o u n t y
5 Y e a r E n d ( / ) P a g e 5 Consumer Price Index (CPI) The Western Urban CPI increased at a rate of 1.9% during FY 11/12. In comparison, this increase was 3.1% during FY 10/11. In general, an increase in CPI increases the price people pay for goods and services and thereby has a positive impact on taxable sales and C-Tax. However, if CPI increases too rapidly, it could have a negative effect on sales tax by pricing people out of the market for items they might have otherwise purchased. Percent Change in Western Urban CPI FY 11/12 0.5% -0.5% 1.7% 0.2% 1.9% FY 10/11 0.1% 0.3% 2.0% 0.7% 3.1% The Western Urban CPI increased at a rate of 1.9% during FY 11/12. Employment and Unemployment The number of people living in Washoe County who are employed has remained relatively flat over the last 2 years. The annual average of those employed only fell by 0.4%. During the same period, the unemployment rate in Washoe County fell by 6.5% from 13.2% to 12.3%. The 4th quarter change (year-over-year) was more dramatic as the unemployment rate for that period fell by 12.2%. One of the reasons that the employment rate remains relatively flat while the unemployment rate falls is because many people have exited the workforce due to: moving away, giving up on the job search, retirement, or other reasons. In addition, while the unemployment rate continues to decline, it is still historically high, which continues to put negative pressure on taxable sales and C-tax revenue. Employment in Washoe County FY 11/12 195, , , , ,072 FY 10/11 197, , , , ,787 % Change Y-O-Y -1.4% -0.3% 0.0% 0.2% -0.4% Washoe County Unemployment Rate FY 11/ % 12.3% 12.4% 11.5% 12.3% FY 10/ % 13.0% 13.7% 13.1% 13.2% % Change Y-O-Y 1.6% -5.4% -9.5% -12.2% -6.5%
6 Hotel Occupancy Rates Occupancy rates in Washoe County averaged 59.7% for FY 11/12. This was 0.8% below the average from the previous fiscal year of 60.2%. In fact, for all of FY 11/12, only the 1st quarter was above previous year rates (68.2% vs. 66.6%). Occupancy rates in Washoe County are an indicator of the number of visitors to the region. As can be seen from the data below, there was a downward trend in FY 11/12. This may have negative pressure on sales tax. Had occupancy rates increased, Washoe County could have been the beneficiary of even higher increases in sales tax collections. Washoe County Hotel Occupancy Rates FY 11/ % 54.6% 53.1% 62.9% 59.7% FY 10/ % 54.8% 56.3% 63.1% 60.2% % Change Y-O-Y 2.4% -0.3% -5.7% -0.3% -0.8% Data Sources Washoe County Finance Department Budget Division P.O. Box E. 9th Street Reno, NV Phone: Fax: arosen@washoecounty.us This report can be found on the web at finance/ revenue_review.html General Fund Property & Consolidated Taxes Washoe County Finance Department Median Single Family Home Prices Washoe County Assessor Housing Inventory Reno-Sparks Association of Realtors Single Family Residential Building Permits Washoe County & the Cities of Reno and Sparks Notice of Defaults UNR Center for Regional Studies Washoe County Taxable Sales Nevada Department of Taxation Consumer Price Index Bureau of Labor Statistics Washoe County Employment and Unemployment Nevada Department of Employment, Training & Rehabilitation Washoe County Hotel Occupancy Rates Reno-Sparks Convention and Visitors Authority
ECONOMIC CURRENTS. Vol. 4, Issue 3. THE Introduction SOUTH FLORIDA ECONOMIC QUARTERLY
ECONOMIC CURRENTS THE Introduction SOUTH FLORIDA ECONOMIC QUARTERLY Vol. 4, Issue 3 Economic Currents provides an overview of the South Florida regional economy. The report presents current employment,
More informationECONOMIC CURRENTS. Vol. 3, Issue 3 SOUTH FLORIDA ECONOMIC QUARTERLY. Introduction
ECONOMIC CURRENTS THE Introduction SOUTH FLORIDA ECONOMIC QUARTERLY Economic Currents provides an overview of the South Florida regional economy. The report presents current employment, economic and real
More informationECONOMIC CURRENTS. Vol. 3, Issue 1. THE SOUTH FLORIDA ECONOMIC QUARTERLY Introduction
ECONOMIC CURRENTS THE SOUTH FLORIDA ECONOMIC QUARTERLY Introduction Economic Currents provides an overview of the South Florida regional economy. The report contains current employment, economic and real
More informationCONTENTS. Executive Summary 1. Southern Nevada Economic Situation 2 Household Sector 5 Tourism & Hospitality Industry
CONTENTS Executive Summary 1 Southern Nevada Economic Situation 2 Household Sector 5 Tourism & Hospitality Industry Residential Trends 7 Existing Home Sales 11 Property Management Market 12 Foreclosure
More informationECONOMIC CURRENTS. Vol. 5 Issue 2 SOUTH FLORIDA ECONOMIC QUARTERLY. Key Findings, 2 nd Quarter, 2015
ECONOMIC CURRENTS THE Introduction SOUTH FLORIDA ECONOMIC QUARTERLY Economic Currents provides an overview of the South Florida regional economy. The report presents current employment, economic and real
More informationUpdate of U.S. Residential Real Estate Trends: Including economic data, current sales, new construction,
THE WRIGHT REPORT Update of U.S. Residential Real Estate Trends: Including economic data, current sales, new construction, interest rates, new construction, and foreclosures. January to June, 2017 www.thewrightinsight.net
More information2013 Arizona Housing Market Mid-Year Report
2013 Arizona Housing Market Mid-Year Report This mid-year market report outlines the latest trends in Arizona real estate. The housing market hit bottom in mid to late 2011, and has been in recovery mode
More informationEconomic Indicators Quarter 3 City of Oakland
Attachment B Economic Indicators Quarter 3 City of Oakland PREPARED BY: THE OFFICE OF ECONOMIC AND WORKFORCE DEVELOPMENT CITY OF OAKLAND DECEMBER 2014 September 16, 2014Sepseseee Introduction to Quarter
More informationCAAR Market Report 2010 Mid-Year Published by the Charlottesville Area Association of REALTORS
CAAR Market Report 2010 Mid-Year Published by the Charlottesville Area Association of REALTORS Where Are We Now? The pace of home purchases in the Charlottesville market area showed a significant increase
More informationReport on Nevada s Housing Market
June 214 Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co-presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the
More informationReport on Nevada s Housing Market
December 214 Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co-presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and
More informationReport on Nevada s Housing Market
March Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co-presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the State
More informationPikes Peak area housing Market Statistics (As of: 2/28/2018)
Jan-1-1 -1-1 Jan-2-2 -2-2 Jan-3-3 -3-3 -4-4 -4-5 -5-5 -6-6 -6-7 -7-7 -8-8 -8-9 -9-9 -1-1 -1-11 -11-11 -12-12 -12-13 -13-13 -14-14 -14-15 -15-15 -16-16 -16-17 -17-17 Jan-1-1 -1-1 Jan-2-2 -2-2 Jan-3-3 -3-3
More informationReport on Nevada s Housing Market
July Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co-presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the State
More informationReport on Nevada s Housing Market
March Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the State
More informationReport on Nevada s Housing Market
August 216 Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More informationFALLON CHURCHILL COUNTY, NEVADA RESIDENTIAL REAL ESTATE TRACKING REPORT
FALLON CHURCHILL COUNTY, NEVADA RESIDENTIAL REAL ESTATE TRACKING REPORT 1st QUARTER 2016 BOB GETTO, C.R.S. & S.F.R. Nevada real estate broker, Lic # 16039 Council of Residential Specialists certified,
More informationPikes Peak area housing Market Statistics (As of: 9/30/2018)
$156,25 $184, $174,697 $177,2 $21,53 $185,83 $173, $178,29 $172,25 $212,75 $21,95 $226,692 $197,5 $199, $196, $28, $25, $223,95 $216,75 $29,527 $234,9 $218,82 $229,74 $235,518 $231,457 $255, $259,11 $269,98
More informationReport on Nevada s Housing Market
May Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the State
More informationReport on Nevada s Housing Market
June Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the State
More informationReport on Nevada s Housing Market
July Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More informationRESEARCH & FORECAST REPORT
Q2 2012 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Recovery Without Job Growth? Despite office employment still trending downwards, Southern Nevada s office market posted positive net absorption
More informationReport on Nevada s Housing Market
February Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the
More informationMarket Research. Market Indicators
colliers international LAS VEGAS, NV Market Research OFFICE Third Quarter 2009 Market Indicators Net Absorption Construction Rental Rate Q3-09 Q4-2009 Projected Clark County Economic Data Jul-09 Jul-08
More informationLand Market Review. Reno nevada. Q Land. Land Sales Increase for the first half of
Q2 21 Land Reno nevada research & forecast Report Land Market Review Land Sales Increase for the first half of 21 market indicators Q2-1 LAND SALES LAND PRICES NEW DEVELOPMENT LAND LISTINGS Projected Q3-1
More informationReport on Nevada s Housing Market
August Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More informationReport on Nevada s Housing Market
May Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More informationCONTENTS. Executive Summary. Southern Nevada Economic Situation 1 Household Sector 4 Tourism & Hospitality Industry
CONTENTS Executive Summary Southern Nevada Economic Situation 1 Household Sector 4 Tourism & Hospitality Industry Residential Trends 6 Existing Home Sales 10 Property Management Market 11 Foreclosure Situation
More information2017 RESIDENTIAL REAL ESTATE MARKET REPORT
2017 RESIDENTIAL REAL ESTATE MARKET REPORT Published January 26, 2018 Our market reports have been focused on the effects of low inventory on our housing market and for good reason. December 2017 marked
More informationTENNESSEE HOUSING MARKET
1st Quarter 212 TENNESSEE HOUSING MARKET David A. Penn, Director Business and Economic Research Center Jennings A. Jones College of Business Middle Tennessee State University This quarterly series is supported
More informationEstimating National Levels of Home Improvement and Repair Spending by Rental Property Owners
Joint Center for Housing Studies Harvard University Estimating National Levels of Home Improvement and Repair Spending by Rental Property Owners Abbe Will October 2010 N10-2 2010 by Abbe Will. All rights
More informationCAAR Market Report 2010 First Quarter Published by the Charlottesville Area Association of REALTORS
CAAR Market Report 2010 First Quarter Published by the Charlottesville Area Association of REALTORS Where Are We Now? In the first quarter of 2010, the Charlottesville real estate market continued the
More informationReport on Nevada s Housing Market
July Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More informationAnnual Market Report for 2010 for Naples, Bonita, Estero market area
Annual Market Review Closed Sales The number of closed sales in once again increased over prior year, making it the third consecutive year to show an increase. Properties priced under $25, continued to
More informationMarket Trends Generated on 04/24/2018 Page 1 of Alpaca St, South El Monte, CA , Los Angeles County.
9743 Alpaca St, South El Monte, CA 91733-3028, Los Angeles County Pricing Trends Median Sale Price to Current Value - Tax The percentage of properties that have increased or decreased in value based on
More informationPulse. Contents. prince george s QUARTERLY REPORT. Changes in Employment. Top Ten Changes in Employment 2nd Quarter 2015 to 2nd Quarter 2016
Contents prince george s Pulse QUARTERLY REPORT Employment and Wages...2 Employment Private Sector Employment Total Wages Average Wage Per Worker Business Establishments Real Estate...4 Housing Market
More informationMonthly Indicators + 1.2% - 2.1% % Activity Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price
Monthly Indicators 2017 We can comfortably consider the first quarter to have been a good start for residential real estate in 2017. There was certainly plenty to worry over when the year began. Aside
More informationHousing and Mortgage Market Update
Housing and Mortgage Market Update Views from the Top Frank E. Nothaft Vice President and Chief Economist January 8, 2015 Summary: Housing & Mortgage Market Outlook for 2015 Interest rates expected to
More informationReport on Nevada s Housing Market
October Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More informationReport on Nevada s Housing Market
October Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More informationCALIFORNIA ECONOMIC & MARKET OUTLOOK. October 29,2014 Contra Costa Association of REALTORS Leslie Appleton Young, Chief Economist
2014 2015 CALIFORNIA ECONOMIC & MARKET OUTLOOK October 29,2014 Contra Costa Association of REALTORS Leslie Appleton Young, Chief Economist OVERVIEW Economic Outlook California Housing Market Outlook Housing
More informationMonthly Indicators - 3.0% 0.0% % Activity Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price
Monthly Indicators 2017 We can comfortably consider the first quarter to have been a good start for residential real estate in 2017. There was certainly plenty to worry over when the year began. Aside
More informationQuick Facts. For Week Ending July 14, 2018 Publish Date: July 23, 2018 All comparisons are to % - 2.7% - 14.
Weekly Market Report A RESEARCH TOOL FROM THE SAINT PAUL AREA ASSOCIATION OF REALTORS. BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending July 14, 2018 Publish
More informationReport on Nevada s Housing Market
June Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas. These reports
More information2013 Housing Market Forecast. SILVAR: Los Gatos/Saratoga District October 10, 2012 Leslie Appleton-Young, Vice President & Chief Economist
2013 Housing Market Forecast SILVAR: Los Gatos/Saratoga District October 10, 2012 Leslie Appleton-Young, Vice President & Chief Economist What we saw from the roof.. C.A.R. NAR THE ECONOMY Recent Housing
More informationResidential Real Estate Market Overview: April 2017 Data
Residential Real Estate Market Overview: April 2017 Data 2017 Mark A. Melikian Chief Valuation Officer mark.melikian@summitvaluations.com 2800 River Road, Suite 460 The following is a market data summary
More informationReport on Nevada s Housing Market
February Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the
More informationMonthly Indicators - 6.1% + 8.6% + 1.8% Activity Overview New Listings. Closed Sales Median Sales Price
Monthly Indicators 2018 Just like last year at this time, prospective home buyers should expect a competitive housing market for the next several months. With payrolls trending upward and unemployment
More informationQuarterly Housing Market Update
Quarterly Housing Market Update An Overview New Hampshire s current housing market performance, as well as its overall economy, is slowly improving, with positives such as increasing employment and rising
More information820 First Street, NE, Suite 510, Washington, DC Tel: Fax:
820 First Street, NE, Suite 510, Washington, DC 20002 Tel: 202-408-1080 Fax: 202-408-1056 center@cbpp.org www.cbpp.org March 16, 2004 HUD S RELIANCE ON RENT TRENDS FOR HIGH-END APARTMENTS TO CRITICIZE
More informationPROPERTY ASSESSMENT AND TAXATION
History of the Community and Service Area Structure Juneau's existing City and Borough concept was adopted in 1970 with the unification of the Cities of Juneau and Douglas and the Greater Juneau Borough.
More informationResidential Real Estate Market Overview: September 2017 Data
Residential Real Estate Market Overview: September 2017 Data 2017 Mark A. Melikian Chief Valuation Officer mark.melikian@summitvaluations.com 2800 River Road, Suite 460 The following is a market data summary
More informationGood Year, Poor Quarter
Q4 2013 RETAIL LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Good Year, Poor Quarter After nine quarters of positive net absorption, Southern Nevada s retail market fell into negative net absorption territory
More informationHousing Price Forecasts. Illinois and Chicago PMSA, June 2012
Housing Price Forecasts Illinois and Chicago PMSA, June 2012 Presented To Illinois Association of REALTORS From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs
More informationFY General Revenue Forecast Presentation
FY 2015-2019 General Revenue Forecast Presentation Steven A. Solomon Director of Finance February 18, 2014 Overview Current Economic Outlook National State Local FY 2014 2nd Quarter Revenue Update Five
More informationWeekly Market Activity Report
X0A0T Weekly Market Report A RESEARCH TOOL FROM THE MINNEAPOLIS AREA ASSOCIATION OF REALTORS BROUGHT TO YOU BY THE UNIQUE DATA-SHARING TRADITIONS OF THE REALTOR COMMUNITY For Week Ending July 14, 2018
More informationSee Full Corridor Study Volumes I and II as separate attachments.
See Full Corridor Study Volumes I and II as separate attachments. See Housing Values 2000-2010 and 2000-2013 as separate attachments. 2013 2 nd Quarter and Mid-Year Market Report The voice of real estate
More informationReport on Nevada s Housing Market
September Report on Nevada s Housing Market This series of reports on Nevada s Housing Market is co-presented by the Lied Institute for Real Estate Studies at the University of Nevada, Las Vegas and the
More informationLas Vegas Housing-Market Conditions
Las Vegas Housing-Market Conditions The Center for Business and Economic Research Las Vegas Housing Market Searching for Bottom Volume 57, 4th The national housing market remained beset with problems in.
More informationFALLON CHURCHILL COUNTY, NEVADA RESIDENTIAL REAL ESTATE TRACKING REPORT
FALLON CHURCHILL COUNTY, NEVADA RESIDENTIAL REAL ESTATE TRACKING REPORT 3rd QUARTER 15 BOB GETTO, C.R.S. & S.F.R. Nevada real estate broker, Lic # 16039 Council of Residential Specialists certified, National
More informationThe Greater Reno-Tahoe Real Estate Report
February, 2018February, 2018 February, 2018 Issue The Greater Reno-Tahoe Real Estate Report Housing Market Trends for: Reno, Sparks, Carson City, Carson Valley, Lake Tahoe, Dayton, and Fernley A FREE monthly
More informationMonthly Indicators - 8.1% + 3.6% - 0.6% Activity Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price
Monthly Indicators 2019 In addition to ongoing housing price increases and affordability concerns in the state of New York, the first quarter of 2019 saw a fair share of adverse weather as well. Sales
More informationWeak sales persist in Calgary and beyond Jun. 2018
June 218 MONTHLY STATISTICS PACKAGE City of Calgary Weak sales persist in Calgary and beyond 218 City of Calgary, July 3, 218 Many Canadian energyrelated municipalities within Alberta and Saskatchewan
More informationConnecticut First Nine Months Housing Report 2014
Connecticut First Nine Months Housing Report 2014 First Nine Months of 2014 Highlight Positive Outlook for Multi-family Home Construction Millennial buyers are finally increasing their rate of household
More informationConnecticut Full Year Housing Report
Connecticut 2014 Full Year Housing Report As 2014 Closes, Increasing Market Confidence Predicts a Solid Start to 2015 With an influx of Millennial, Gen X and Baby Boomer buyers, a strong spring market
More informationResidential Real Estate, Demographics, and the Economy
Residential Real Estate, Demographics, and the Economy Presented to: Regional & Community Bankers Conference Yolanda K. Kodrzycki Senior Economist and Policy Advisor Federal Reserve Bank of Boston October
More informationHousing Market Update
Housing Market Update September 2017 EXECUTIVE SUMMARY TIGHT HOUSING MARKET CONTINUES, REFLECTS LOW INVENTORY AND HIGHER PRICES Dean J. Christon, Executive Director September 2017 The trend continues in
More informationWISCONSIN HOUSING MARKETPLACE
WISCONSIN REALTORS ASSOCIATION WISCONSIN HOUSING MARKETPLACE Date: 2/16/06 For Release: Immediately For More Information Contact: David E. Clark, Economist C3 Statistical Solutions Inc. Office phone: 414-803-6537
More informationRESEARCH & FORECAST REPORT
Q3 2012 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Office Forges Ahead Southern Nevada s office market continued to post positive net absorption in the third quarter of 2012, despite weak employment
More informationMarket Trends Generated on 09/27/2018 Page 1 of Lorenzen Rd, Tracy, CA , San Joaquin County. Pricing Trends
12 Lorenzen Rd, Tracy, CA 95304-8188, San Joaquin County Pricing Trends Median Sale Price to Current Value - Tax The percentage of properties that have increased or decreased in value based on the year
More informationHas The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2.
Research & Forecast Report OAKLAND METROPOLITAN AREA OFFICE Q1 Has The Office Market Reached A Peak? > > Vacancy remained low at 5. > > Net Absorption was positive 8,399 in the first quarter > > Gross
More informationDenver Realtor Reviews: Denver Real Estate Market Statistics August 2016
Denver Realtor Reviews: Denver Real Estate Market Statistics August 2016 The average price for a home in Denver was $400,524 at the end of August 2016. The median price for a home in Denver was $350,000
More informationMonthly Indicators % % % Market Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price
Monthly Indicators 2017 We can comfortably consider the first quarter to have been a good start for residential real estate in 2017. There was certainly plenty to worry over when the year began. Aside
More informationHamilton s Housing Market and Economy
Hamilton s Housing Market and Economy Growth Indicator Report November 2016 hamilton.govt.nz Contents 3. 4. 5. 6. 7. 7. 8. 9. 10. 11. Introduction New Residential Building Consents New Residential Sections
More informationFOR IMMEDIATE RELEASE Contact: David B. Bennett President & CEO Phone:
FOR IMMEDIATE RELEASE Contact: David B. Bennett President & CEO Phone: 727-216-32 Email: dbennett@tampabayrealtor.com Real Estate Statistics for September 217 September s numbers are out, and it comes
More informationLas Vegas Valley Executive Summary
ARROYO MARKET SQUARE Las Vegas Valley Executive Summary Retail Market 4th Quarter 2013 THE DISTRICT AT GREEN VALLEY RANCH January 23, 2014 Re: Commercial Real Estate Survey: 4th Quarter, 2013 Dear Reader,
More informationMarket Research. OFFICE First Quarter 2010
colliers international LAS VEGAS, NV Market Research OFFICE First Quarter 2010 Market Indicators Net Absorption Construction Rental Rate Q1-10 Q2-2010 Projected Clark County Economic Data Jan-10 Jan-09
More informationKey Findings on the Affordability of Rental Housing from New York City s Housing and Vacancy Survey 2008
Furman Center for real estate & urban policy New York University school of law n wagner school of public service 110 West 3rd Street, Suite 209, New York, NY 10012 n Tel: (212) 998-6713 n www.furmancenter.org
More informationALBERTA ECONOMIC & MARKET UPDATE
JANUARY 2018 ALBERTA ECONOMIC & MARKET UPDATE ECONOMIC INDICATORS As Alberta s economy continued to improve in 2017, population growth also started to recover as fewer residents were moving to other provinces.
More informationHousing Market Update
Housing Market Update March 2017 New Hampshire s Housing Market and Challenges Market Overview Dean J. Christon Executive Director, New Hampshire Housing Finance Authority New Hampshire s current housing
More informationHousing Price Forecasts. Illinois and Chicago PMSA, January 2018
Housing Price Forecasts Illinois and Chicago PMSA, January 2018 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More informationrd Quarter Market Report
2012 3 rd Quarter Market Report The voice of real estate in Central Virginia CAAR Member Copy Expanded Edition Charlottesville Area 3 rd Quarter 2012 Highlights: Overall sales in Greater Charlottesville
More informationHousing Indicators in Tennessee
Housing Indicators in l l l By Joe Speer, Megan Morgeson, Bettie Teasley and Ceagus Clark Introduction Looking at general housing-related indicators across the state of, substantial variation emerges but
More informationThe Department s Role
CITY ASSESSOR The Department s Role on the h Ci City s T Team August 21, 2013 Who we are... Micheal Lohmeier City Assessor (2012) (Commercial Appraiser 1998-2005, Assr. 2010-12) 12) Administration and
More informationHousing Price Forecasts. Illinois and Chicago PMSA, April 2013
Housing Price Forecasts Illinois and Chicago PMSA, April 2013 Presented To Illinois Association of Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs
More informationMARKET IN A MINUTE A SUMMARY OF MARKET CONDITIONS FOR SEPTEMBER & 3rd QUARTER 2017
STATPAK LOUDOUN COUNTY OCTOBER 2017 McEnearney.com MARKET IN A MINUTE A SUMMARY OF MARKET CONDITIONS FOR SEPTEMBER & 3rd QUARTER 2017 Contract activity in September 2017 was up just 0.6% from September
More information2015 First Quarter Market Report
2015 First Quarter Market Report CAAR Member Copy Expanded Edition Charlottesville Area First Quarter 2015 Highlights: Median sales price for the region was up 5.1% over Q1-2014, rising from $244,250 to
More informationRESIDENTIAL MARKET ANALYSIS
RESIDENTIAL MARKET ANALYSIS EVAN ABRAMOWITZ Joseph Bernard Investment Real Estate Oregon Association of Realtors Student Fellow Masters of Real Estate Development Graduate Student National housing market
More informationBankwest Future of Business: Focus on Real Estate
Bankwest Future of Business: Focus on Real Estate 2018 Contents Key insights Industry overview What s driving industry growth? Spotlight on Australia Spotlight on Western Australia What does the future
More informationINLAND EMPIRE REGIONAL INTELLIGENCE REPORT
INLAND EMPIRE REGIONAL INTELLIGENCE REPORT June 2016 EMPLOYMENT After a slow start to 2016, the Inland Empire s labor market returned to form, in recent job figures. Seasonally adjusted nonfarm employment
More informationCharlottesville Housing Market Report Year-End (Published by the Charlottesville Area Association of REALTORS )
Charlottesville Housing Market Report - 2009 Year-End (Published by the Charlottesville Area Association of REALTORS ) This Quarterly Market Report is produced by the Charlottesville Area Association of
More informationReal gross domestic product California vs. United States
Real gross domestic product California vs. United States Percent change, year ago 6 4 U.S. California 2 0-2 -4-6 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Source: Bureau of Economic Analysis.
More informationANALYSIS OF THE CENTRAL VIRGINIA AREA HOUSING MARKET 1st quarter 2013 By Lisa A. Sturtevant, PhD George Mason University Center for Regional Analysis
ANALYSIS OF THE CENTRAL VIRGINIA AREA HOUSING MARKET 1st quarter By Lisa A. Sturtevant, PhD George Mason University Center for Regional Analysis Economic Overview Key economic factors in the first quarter
More informationCAAR Market Report. Greater Charlottesville Area. Q Quick Facts + 3.5% + 8.0% %
CAAR Market Report Includes the city of Charlottesville and the counties of Albemarle, Fluvanna, Greene, Louisa and Nelson. Quick Facts + 3.5% + 8.0% We can comfortably consider the first quarter to have
More informationCBER-LIED Report on Housing Market Conditions
CBER-LIED Report on Housing Market Conditions CBER and Lied Institute Report Volume 62, 1st, Housing Markets Conditions in 1 st Beginning with this issue of the CBER-LIED Report on Housing Market Conditions,
More informationMonthly Indicators % % - 5.3% Activity Overview New Listings Pending Sales. Closed Sales. Days on Market Until Sale. Median Sales Price
Monthly Indicators 2018 Housing price bubble chatter has increased this summer, as market observers attempt to predict the next residential real estate shift. It is too early to predict a change from higher
More informationFor the Reno MSA employment has historically been based largely on construction and the leisure and hospitality industry. The construction industry
For the Reno MSA employment has historically been based largely on construction and the leisure and hospitality industry. The construction industry has lost almost 15,000 construction jobs since 2006,
More informationDATA FOR APRIL Published May 15, Sales are down -4.4% month-over-month. The year-over-year comparison is up +3.7%. ARMLS STAT APRIL 2018
Permission is granted only to ARMLS Subscribers for reproduction with attribution on to ARMLS COPYRIGHT 2018. For questions regarding this publication contact Brand@ARMLS.com. DATA FOR APRIL 2018 - Published
More informationHOUSING MARKET OUTLOOK: SAN LUIS OBISPO, CA AND SURROUNDING AREA
HOUSING MARKET OUTLOOK: SAN LUIS OBISPO, CA AND SURROUNDING AREA GABE RANDALL SCOTT KELTING April15, 2009 National Market Overview April 15, 2009 2008: A Year in Review Starting between 1999 and 2000,
More informationHousing Price Forecasts. Illinois and Chicago PMSA, August 2017
Housing Price Forecasts Illinois and Chicago PMSA, August 2017 Presented To Illinois Realtors From R E A L Regional Economics Applications Laboratory, Institute of Government and Public Affairs University
More information