population change: 2005 versus 2004 more than 2% 1% to 2% 0% to 1% less than 0% us: 0.94%
TRANSCRIPT
Population Change: 2005 versus 2004
More than 2%
1% to 2%
0% to 1%
Less than 0%
US: 0.94%
Population Change: 2006 versus 2005
More than 2%
1% to 2%
0% to 1%
Less than 0%
US: 0.90%
Population Change: 2007 versus 2006
More than 2%
1% to 2%
0% to 1%
Less than 0%
US: 0.90%
Forces driving regional housing demand
Interplay between
employment growth and
population growth
Employment Growth: 2005 versus 2004
More than 2%
1% to 2%
0% to 1%
Less than 0%
US: 1.55%
Employment Growth: 2006 versus 2005
More than 2%
1% to 2%
0% to 1%
Less than 0%
US: 1.38%
Employment Growth: 2007 versus 2006
More than 2%
1% to 2%
0% to 1%
Less than 0%
US: 0.96%
Employment Growth: Y/Y Jan-Aug 2006 vs. 2005
More than 2%
1% to 2%
0% to 1%
Less than 0%
US: 1.32%
Forces driving regional housing demand
Higher home prices are dampening demand
• But different states have experienced different rates of price increases
Change in Existing Home Prices in Y/Y Q2, 2004
20% or more
10% to 20%
5% to 10%
5% or less
US: 9.84%
Change in Existing Home Prices in Y/Y Q2, 2005
20% or more
10% to 20%
5% to 10%
5% or less
US: 14.04%
Change in Existing Home Prices in Y/Y Q2, 2006
20% or more
10% to 20%
5% to 10%
5% or less
US: 10.06%
Forces driving regional housing demand
Demand for second homes
Second Homes: Share of Housing Stock 2000
10% or more
5% to 10%
3% to 5%
3% or less
US: 3.1%
Forces driving regional housing demand
Demand for apartments
and condos
Multifamily Housing:
Not everyone lives in a single-family house
Rental Vacancy Rates 2004
0% to 8%8.1% to 11%
11.1% to 13%
13.1% to 18%
US: 10.2%
Rental Vacancy Rates 2005
0% to 8%8.1% to 11%
11.1% to 13%
13.1% to 15%
US: 9.8%
Multifamily Share of Housing Starts 2000-2005
0% to 15%
15% to 20%
20% to 25%
25% or more
US: 19.2%
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