Posts Tagged ‘Boulder Co homes for sale’

Homeowner Vacancy: Tightest Housing Markets in the U.S.

Homeowner Vacancy: Tightest Housing Markets in the U.S.

A simple measure of tightness in a market for owner-occupied housing is the homeowner vacancy rate (number of homes for sale divided by the number either for sale or owner-occupied). Builders are often interested in markets that are tight by this measure, because it indicates prospective buyers will have difficulty finding a suitable home among the available existing units.

Several federal government surveys provide homeowner vacancy rates, but the one with the greatest geographic detail by far is the Census Bureau’s American Community Survey (ACS). In a recent study, NAHB tabulated the most recent (2010) ACS this data for all metropolitan areas in the country.

Overall, the tightest markets tend to be relatively small: Corvallis, Ore. (with a homeowner vacancy rate of 0.23 percent), Lebanon, Pa. (0.49 percent), Billings, Mont. (0.54 percent), San Angelo, Texas (0.61 percent), and Eau Claire, Wis. (also 0.61 percent).

The two tightest large markets in 2010—Nassau-Suffolk, N.Y. and Santa Ana-Anaheim-Irvine, Calif.—were also the two tightest large markets the last time NAHB looked at the ACS data in 2008.

The NAHB study provides a rundown of the top-10 metros according to nine key measures, including: owner-occupied housing units; homeownership rate; home owner vacancy rate; share of single-family detached homes; value of homes owned; home owner incomes; growth in stock of single-family detached homes; and share of homes built recently. It also has a spreadsheet that shows how more than 350 other metro areas stack up in each category.

Read the original article at the National Association of Home Builder blog, Eye on Housing

Joel Thompson RE/MAXAlliance 303-877-0060

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Colorado’s unemployment rate continues decline

Colorado’s unemployment rate continues decline

Associated PressAssociated Press

DENVER — Colorado’s unemployment rate continues to slowly decline.

The state labor department said Tuesday that the unemployment rate declined by one-tenth of a percentage point to 7.8 percent in January.

During January, the state gained a total of 19,500 jobs. The private sector added 22,500 jobs in January but government cut 3,000 positions. The biggest gains were in construction, professional and business services and leisure and hospitality.

The state’s survey of households found that the number of people actively looking for work dropped by 3,900 people.

The national unemployment rate for January was 8.3 percent.

The Colorado Department of Labor also tracks the labor force situation across counties, metropolitan statistical areas and cities, but the employment figures are not immediately adjusted for seasonal changes — including increases in hiring for the holidays. A couple weeks after the release of the state unemployment rate, the U.S. Department of Labor’s Bureau of Labor Statistics releases the seasonally adjusted unemployment rates for counties, said Bill Thoennes, spokesman for the Colorado labor department.

The jobless rate for the BoulderLongmont metropolitan statistical area — which essentially covers Boulder County — increased to 6.2 percent in January from 5.5 percent the month before, according to figures that were not seasonally adjusted. Boulder County’s employment rate in January 2011 was 7.1 percent.

Broomfield recorded a 0.4 percentage point increase to 6.9 percent for January 2012. Broomfield posted a 7.8 percent unemployment rate in January 2011.

When not adjusting for seasonal employment changes, Colorado’s jobless rate increased 0.7 percentage points to 8.4 percent.

Camera Business Writer Alicia Wallace contributed to this report.

Joel Thompson RE/MAX Alliance