May 2008 Real Estate Market Statistics and Indicators – Local

Okay, time for a Housing Statistic and Indicator report for May 2008. As always, this information is from our friends at John Burns Real Estate Consulting who specialize in providing top notch research consulting for some of America’s largest home builders and developers.

Here we go…

"Affordability Has Improved Dramatically"

"Housing affordability has improved dramatically in the last year, particularly in those markets where affordability was previously the most concerning. Each month, we calculate our Housing Cycle Barometer™ rating – a measure of the relationship between incomes and housing costs – for more than 380 metro areas across the country. The number of markets that we designate as "Areas of Significant Affordability Concern" – where the Barometer rating was 7.5 or higher (out of 10) – has fallen from 42 markets one year ago to only 3 markets today. Our ratings for each market are shown in the table below and our definition is here .

We expect prices to continue declining in most areas until demand and supply return to a balanced level, but at least housing costs are returning to normal. Mortgage rates and lending practices will play a huge role in determining when stability is achieved."

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 230 440 93.2% 200 0.4% 3.9% $91,269 23% 2.6
Auburn-Opelika 1,075 1,264 57.4% 1,900 3.5% 3.8% $138,841 34% 1.8
Birmingham 4,207 4,898 62.7% (700) (0.1%) 3.6% $155,963 32% 3.2
Decatur 359 435 46.1% 1,000 1.7% 3.9% $99,602 24% 2.6
Dothan 309 309 41.3% (600) (0.9%) 3.8% $99,292 25% 3.6
Florence 350 534 68.2% 500 0.9% 4.1% $95,908 22% 0.1
Huntsville 2,904 4,000 80.0% 4,700 2.3% 3.1% $128,006 22% 0.8
Mobile 1,775 2,916 100.0% (100) (0.1%) 4.1% $135,734 33% 5.5
Montgomery 1,023 1,733 66.5% 2,600 1.5% 4.2% $144,000 31% 5.1
Tuscaloosa 784 1,977 75.5% 500 0.5% 3.6% $124,527 29% 0.2
Alaska
Anchorage 350 844 9.4% 1,300 0.8% 6.4% $215,015 30% 5.0
Arizona
Flagstaff 440 450 33.1% (200) (0.3%) 4.0% $233,917 44% 5.5
Phoenix 21,775 30,490 44.0% (4,300) (0.2%) 3.5% $222,000 35% 5.7
Prescott 1,247 1,348 30.1% 1,100 1.7% 4.0% $210,987 44% 5.0
Tucson 4,137 5,064 39.4% (7,500) (1.9%) 3.9% $215,000 40% 5.9
Yuma 934 1,008 37.3% 1,100 2.0% 8.8% $175,000 39% 5.6
Arkansas
Fayetteville 1,945 3,489 46.0% 300 0.1% 3.7% $119,413 22% 0.0
Fort Smith 685 999 76.0% 1,000 0.8% 4.5% $80,570 17% 0.0
Little Rock 2,551 3,201 55.7% 3,300 1.0% 4.3% $126,436 22% 2.4
California
Bakersfield 2,746 3,352 37.8% 3,800 1.6% 10.8% $205,000 36% 5.5
Chico 793 811 40.8% 700 0.9% 8.2% $220,000 41% 4.7
El Centro 302 469 21.3% (400) (0.9%) 16.4% $191,000 39% 4.4
Fresno 2,911 4,014 54.1% 2,400 0.8% 11.1% $229,000 46% 6.5
Hanford 357 384 28.4% 700 2.0% 11.4% $152,500 28% 4.3
Los Angeles 5,945 17,169 24.4% (13,600) (0.3%) 5.8% $450,000 71% 6.5
Madera 395 410 18.1% 1,200 3.5% 10.6% $210,000 50% 6.9
Merced 603 716 19.5% 700 1.2% 13.7% $191,250 37% 5.0
Modesto 1,082 1,597 25.2% (900) (0.6%) 11.3% $219,000 39% 5.0
Monterey 559 1,036 36.8% 2,100 1.7% 11.2% $413,500 60% 5.1
Napa 237 293 29.2% 600 1.0% 4.8% $457,250 60% 6.0
Oakland 3,256 6,125 26.6% (8,600) (0.8%) 5.5% $482,500 56% 5.4
Orange County 1,967 6,552 26.3% (21,700) (1.4%) 4.6% $570,000 67% 6.6
Redding 470 635 26.8% 700 1.1% 10.1% $221,000 42% 5.4
Riverside-San Bernardino 12,359 15,917 27.6% (21,700) (1.7%) 7.1% $276,000 42% 5.6
Sacramento 5,436 6,342 26.6% 800 0.1% 6.5% $275,500 39% 4.8
San Diego 2,917 6,108 13.8% (1,700) (0.1%) 5.3% $417,000 54% 4.5
San Francisco 952 4,112 61.0% 20,200 2.1% 4.4% $810,000 93% 7.3
San Jose 1,559 4,121 41.0% 7,200 0.8% 5.5% $675,000 69% 7.2
San Luis Obispo 847 1,214 33.7% 700 0.7% 5.1% $480,000 82% 7.2
Santa Barbara 422 503 18.4% 800 0.5% 5.3% $450,000 70% 5.9
Santa Cruz 349 870 61.6% 1,900 2.0% 8.3% $631,750 86% 6.7
Santa Rosa 754 1,028 17.7% 1,900 1.0% 5.2% $425,000 60% 5.7
Stockton 1,622 1,873 26.6% 2,800 1.3% 10.3% $259,000 40% 4.2
Vallejo-Fairfield 591 712 11.4% (1,500) (1.2%) 6.4% $330,000 43% 5.3
Ventura 769 1,504 20.0% (5,600) (1.9%) 5.6% $475,000 55% 5.4
Visalia-Porterville 1,965 2,448 68.5% (400) (0.4%) 12.1% $190,000 38% 5.7
Yuba-Sutter 511 599 19.7% (400) (1.0%) 12.8% $208,000 40% 4.9
Colorado
Boulder 391 603 11.7% 2,200 1.3% 4.0% $321,332 41% 5.3
Colorado Springs 2,496 2,851 25.9% 3,700 1.4% 5.6% $190,000 27% 2.4
Denver 6,998 13,440 47.1% 19,700 1.6% 4.8% $224,900 32% 4.4
Fort Collins 1,008 1,393 38.0% 3,700 2.8% 4.2% $209,500 29% 2.4
Grand Junction 1,163 1,277 62.4% 2,700 4.4% 3.9% $176,818 31% 4.4
Greeley 1,344 1,443 32.7% 2,000 2.5% 5.1% $170,000 25% 1.1
Pueblo 527 535 37.2% 700 1.2% 6.0% $95,091 20% 0.0
Connecticut
Bridgeport 1,435 2,531 48.0% 5,200 1.3% 4.9% $449,318 47% 0.4
Hartford 1,760 2,514 23.3% 8,300 1.5% 5.7% $238,118 31% 2.0
New Haven 774 1,193 16.3% (800) (0.3%) 5.7% $253,856 34% 1.9
Delaware
Dover 1,202 1,497 68.6% 0 0.0% 3.7% $194,126 36% 6.6
Wilmington 1,437 2,146 33.4% (400) (0.1%) 4.0% $219,645 32% 5.4
District of Columbia
Washington D.C. 10,632 16,559 43.6% 23,900 1.0% 3.6% $375,757 39% 6.4
Florida
Daytona Beach 1,339 2,078 26.2% (3,100) (1.8%) 5.2% $167,000 33% 5.4
Fort Lauderdale 1,437 3,387 17.4% (9,800) (1.2%) 4.3% $290,000 45% 6.3
Fort Myers 2,907 3,800 13.0% (13,900) (5.8%) 6.5% $217,000 36% 5.4
Fort Walton Beach 503 660 17.7% 0 0.0% 3.6% $193,914 30% 4.7
Gainesville 753 1,549 46.8% 2,500 1.9% 3.2% $182,076 40% 5.3
Jacksonville 6,740 9,617 38.3% (600) (0.1%) 4.6% $178,450 29% 5.5
Lakeland 3,428 4,130 31.3% (3,200) (1.5%) 5.0% $162,500 30% 5.4
Melbourne 1,679 2,480 25.1% (1,100) (0.5%) 5.3% $160,050 27% 5.0
Miami 2,750 6,921 26.5% (3,300) (0.3%) 3.9% $315,000 61% 8.0
Naples 893 1,743 21.4% (7,400) (5.3%) 5.0% $391,000 56% 6.5
Ocala 1,966 2,037 27.3% (1,400) (1.3%) 6.0% $138,500 28% 5.3
Orlando 10,302 16,981 47.0% 4,400 0.4% 4.5% $211,750 35% 6.0
Panama City 587 837 15.1% 300 0.4% 4.3% $186,940 33% 5.7
Pensacola 1,647 2,384 36.9% 1,800 1.0% 4.4% $149,233 26% 2.3
Port St. Lucie 1,694 2,093 19.4% (1,600) (1.2%) 6.2% $175,000 30% 5.0
Tallahassee 1,816 2,476 57.8% 700 0.4% 3.5% $166,239 34% 4.2
Tampa 7,103 10,328 27.2% (17,300) (1.3%) 5.1% $169,000 31% 5.4
West Palm Beach 1,986 3,514 15.2% (7,700) (1.3%) 5.0% $259,000 38% 5.2
Georgia
Albany 407 526 41.7% (100) (0.2%) 5.5% $93,413 21% 1.5
Athens 823 1,235 52.4% 1,100 1.3% 4.3% $137,418 27% 0.0
Atlanta 25,874 37,641 50.9% 26,400 1.1% 5.1% $163,594 22% 1.0
Augusta 2,615 2,991 54.7% 2,100 1.0% 5.3% $115,658 22% 1.9
Columbus 1,022 1,533 68.3% (200) (0.2%) 5.4% $110,456 20% 0.1
Dalton 459 585 53.2% (700) (0.9%) 6.4% $108,987 20% 0.0
Gainesville 953 967 36.9% 1,600 2.1% 4.4% $147,885 25% 1.6
Macon 1,005 1,300 68.2% 700 0.7% 5.5% $101,291 19% 0.1
Savannah 2,307 3,139 64.6% 800 0.5% 4.4% $146,321 26% 3.7
Valdosta 932 1,115 76.3% 300 0.5% 4.4% $110,210 26% 2.2
Warner Robins 1,012 1,295 61.3% 600 1.0% 4.4% $103,890 16% 0.0
Hawaii
Honolulu 918 2,228 45.0% 2,600 0.6% 2.7% $590,644 77% 5.4
Idaho
Boise City 3,251 4,133 35.8% (4,400) (1.6%) 3.6% $187,269 29% 5.0
Coeur D’Alene 910 1,370 51.0% 3,100 5.7% 4.6% $187,288 32% 4.9
Illinois
Bloomington 407 581 34.2% 300 0.3% 4.3% $141,133 25% 0.0
Champaign-Urbana 616 1,398 64.2% (400) (0.4%) 4.6% $138,861 27% 3.9
Chicago 11,504 23,093 52.5% 13,000 0.3% 5.5% $230,000 37% 5.6
Decatur 142 154 25.9% 100 0.2% 6.1% $73,356 16% 0.3
Lake-Kenosha 2,026 2,357 36.5% 2,600 0.7% 6.1% $260,856 33% 4.7
Peoria 1,018 1,280 66.1% 1,700 0.9% 5.0% $117,812 21% 5.3
Rockford 882 1,058 40.3% (800) (0.5%) 7.9% $110,725 21% 5.6
Springfield 432 578 37.3% (100) (0.1%) 5.0% $107,388 19% 2.0
Indiana
Bloomington 477 781 64.0% 1,300 1.6% 4.8% $124,874 26% 0.1
Elkhart-Goshen 547 615 37.2% (1,700) (1.3%) 5.8% $109,611 18% 0.0
Evansville 779 1,108 50.9% 1,200 0.7% 5.0% $95,028 18% 1.2
Fort Wayne 943 986 26.7% (4,400) (2.0%) 6.4% $89,332 16% 0.1
Gary 2,064 2,844 61.5% 300 0.1% 5.7% $125,009 21% 0.2
Indianapolis 6,492 7,873 45.8% 7,100 0.8% 4.8% $114,003 18% 0.0
Lafayette 590 835 45.6% 500 0.5% 5.0% $108,630 22% 0.0
Muncie 118 128 22.4% (600) (1.1%) 6.8% $81,862 19% 0.1
South Bend 635 1,146 57.7% 900 0.6% 6.0% $86,880 16% 0.1
Terre Haute 239 408 59.5% (1,000) (1.3%) 6.6% $77,766 17% 0.1
Iowa
Cedar Rapids 803 1,148 55.8% 1,100 0.8% 3.7% $134,837 23% 4.1
Davenport 615 1,081 71.0% 400 0.2% 4.7% $105,571 20% 3.2
Des Moines 3,016 3,676 58.3% 5,500 1.7% 3.6% $150,283 23% 2.8
Dubuque 272 315 36.1% 500 0.9% 4.3% $114,867 20% 0.2
Iowa City 602 758 44.7% 700 0.8% 2.6% $151,408 26% 0.1
Sioux City 233 284 24.0% (600) (0.8%) 3.8% $87,979 17% 0.1
Waterloo 396 427 50.8% 1,600 1.8% 3.7% $115,228 21% 5.8
Kansas
Topeka 646 933 67.7% 500 0.5% 5.0% $114,127 20% 4.4
Wichita 2,176 2,741 59.9% 3,400 1.1% 4.1% $112,283 19% 2.9
Kentucky
Bowling Green 547 630 45.5% 1,400 2.3% 5.1% $107,687 21% 0.1
Lexington 1,977 2,293 44.8% 1,200 0.5% 4.7% $131,377 23% 0.1
Louisville 3,939 5,229 58.5% 11,400 1.9% 5.6% $131,308 23% 1.2
Louisiana
Alexandria 575 583 61.3% 400 0.6% 4.3% $93,434 25% 4.0
Baton Rouge 3,697 5,480 60.5% 2,300 0.6% 4.2% $167,600 34% 5.5
Houma 660 674 56.5% 1,500 1.6% 3.2% $115,666 24% 4.8
Lafayette 1,291 1,685 32.9% 4,100 2.8% 3.2% $130,569 30% 5.0
Lake Charles 788 1,179 78.4% (600) (0.6%) 4.2% $105,457 23% 3.4
Monroe 424 499 41.4% 300 0.4% 4.8% $94,242 25% 3.6
New Orleans 3,934 7,206 54.2% 9,800 1.9% 3.8% $156,731 33% 5.1
Shreveport 1,316 1,655 53.9% 4,100 2.3% 5.1% $136,505 34% 5.5
Maine
Bangor 435 502 50.4% 300 0.5% 5.5% $122,386 26% 2.6
Portland 1,950 2,475 43.1% 0 0.0% 4.3% $229,133 36% 3.2
Maryland
Baltimore 4,285 6,147 31.5% 8,900 0.7% 3.8% $261,536 36% 7.9
Bethesda 2,135 4,070 33.3% (1,400) (0.2%) 2.7% $420,000 43% 7.0
Hagerstown 1,586 1,828 44.2% 0 0.0% 5.2% $179,498 28% 2.4
Salisbury 395 616 47.5% 200 0.4% 4.8% $156,564 30% 3.8
Massachusetts
Barnstable Town 643 731 14.8% (500) (0.5%) 6.3% $362,106 54% 3.4
Boston 1,747 4,395 41.5% 24,200 1.4% 3.9% $384,060 53% 6.7
Cambridge 1,642 3,246 43.4% 25,600 1.0% 4.3% $402,165 48% 4.9
Michigan
Ann Arbor 446 521 18.0% (3,300) (1.6%) 4.9% $178,135 25% 0.0
Battle Creek 121 214 34.3% (1,200) (2.0%) 7.0% $88,691 17% 0.0
Detroit 809 943 14.9% (28,000) (3.6%) 9.1% $89,469 18% 0.0
Flint 287 361 10.5% (8,000) (5.3%) 10.6% $95,058 19% 2.3
Grand Rapids 1,523 1,733 34.4% (100) 0.0% 6.3% $127,279 22% 2.1
Holland 653 961 35.0% (1,600) (1.4%) 6.1% $146,379 22% 0.6
Jackson 203 347 34.5% (1,400) (2.4%) 7.9% $103,327 21% 4.5
Kalamazoo 708 1,000 40.6% (400) (0.3%) 5.9% $118,861 22% 1.9
Lansing 493 646 20.5% (1,400) (0.6%) 6.1% $112,034 20% 0.6
Muskegon 264 326 32.9% 400 0.6% 7.6% $95,551 20% 1.5
Niles 379 405 49.6% 2,200 3.5% 7.3% $123,502 24% 3.8
Saginaw 168 221 22.7% (3,100) (3.5%) 8.5% $72,630 16% 0.1
Warren 2,471 2,878 14.5% (17,300) (1.5%) 7.5% $159,013 22% 0.2
Minnesota
Duluth 829 994 58.0% 1,700 1.3% 6.4% $114,967 22% 6.4
Minneapolis 6,746 8,929 31.7% 13,300 0.8% 4.8% $209,000 28% 3.1
Rochester 619 691 34.3% 1,900 1.8% 4.6% $133,977 18% 0.8
St. Cloud 637 700 34.7% 1,500 1.5% 5.8% $134,719 22% 2.6
Mississippi
Gulfport-Biloxi 2,311 5,121 93.2% 3,000 2.8% 4.9% $148,593 32% 5.4
Hattiesburg 226 1,075 95.0% 1,400 2.3% 4.7% $97,175 24% 0.9
Jackson 2,691 2,760 61.3% 1,300 0.5% 4.8% $119,422 25% 0.8
Pascagoula 678 1,749 100.0% 7,200 13.9% 5.3% $114,556 24% 5.2
Missouri
Columbia 821 1,032 44.1% 700 0.7% 4.3% $128,429 26% 2.1
Jefferson City 220 238 20.7% 400 0.5% 4.9% $108,013 20% 2.8
Joplin 297 377 50.8% 400 0.5% 5.2% $84,829 21% 2.5
Kansas City 5,138 8,010 43.4% 7,800 0.8% 5.5% $146,173 23% 0.4
Springfield 1,584 3,109 60.8% 2,500 1.2% 4.9% $122,771 27% 3.8
St. Joseph 130 162 37.9% 200 0.3% 5.4% $90,441 18% 0.2
St. Louis 7,270 9,143 49.9% (5,400) (0.4%) 6.4% $177,438 31% 6.0
Montana
Billings 652 677 46.2% 1,100 1.4% 3.1% $141,006 24% 0.5
Missoula 477 605 53.7% (300) (0.5%) 4.1% $199,711 42% 5.3
Nebraska
Lincoln 1,023 1,247 46.1% 3,400 2.0% 2.9% $135,323 22% 2.7
Omaha 3,624 5,104 77.0% 6,100 1.3% 3.6% $134,780 22% 3.1
Nevada
Las Vegas 10,259 21,727 55.4% (2,400) (0.3%) 5.6% $240,000 37% 5.4
Reno 1,886 1,914 30.2% (1,100) (0.5%) 6.2% $270,000 41% 5.6
New Hampshire
Manchester 634 904 12.6% 1,600 1.6% 4.2% $195,612 22% 1.0
New Jersey
Atlantic City 893 949 23.9% (400) (0.3%) 6.6% $255,664 36% 4.9
Camden 2,244 2,981 35.3% 5,100 1.0% 5.0% $217,432 25% 2.7
Edison 3,860 6,499 26.6% 2,300 0.2% 4.7% $345,650 35% 4.8
Newark-Union 2,728 5,298 57.4% (400) 0.0% 5.2% $412,106 44% 4.0
Trenton 398 720 19.8% 2,000 0.8% 4.6% $302,948 33% 4.4
Vineland 474 507 61.0% (500) (0.8%) 7.9% $153,575 25% 3.2
New Mexico
Albuquerque 3,314 4,231 47.6% 1,300 0.3% 3.6% $212,500 39% 5.5
Las Cruces 1,161 1,239 49.3% 1,100 1.6% 4.2% $124,418 29% 2.6
Santa Fe 230 230 17.8% 900 1.4% 3.0% $263,884 43% 3.9
New York
Albany 1,510 2,186 41.0% 600 0.1% 5.1% $194,917 31% 4.3
Binghamton 283 325 24.7% 600 0.5% 5.7% $112,006 21% 3.0
Buffalo 1,331 1,574 33.9% 1,100 0.2% 6.2% $106,325 21% 1.9
Glens Falls 438 489 30.3% 900 1.7% 6.3% $153,109 30% 3.7
Ithaca 168 301 45.7% 700 1.1% 3.9% $152,826 29% 2.9
Kingston 369 519 36.8% (400) (0.6%) 5.2% $242,694 40% 4.8
Nassau 2,746 3,557 31.0% 11,400 0.9% 4.6% $431,826 45% 7.1
New York 2,735 38,239 92.0% 52,200 1.0% 4.7% $500,450 77% 6.7
Poughkeepsie 1,236 1,842 35.7% 300 0.1% 5.0% $244,549 33% 2.9
Rochester 1,560 1,865 36.1% 700 0.1% 5.7% $117,304 20% 2.7
Syracuse 1,177 1,314 38.2% 3,200 1.0% 5.7% $121,161 23% 4.1
Utica-Rome 398 446 33.7% 600 0.5% 5.9% $103,751 21% 1.8
North Carolina
Asheville 2,864 3,140 72.9% 3,900 2.2% 4.4% $180,704 41% 6.2
Burlington 1,239 1,291 63.7% 800 1.3% 5.4% $112,099 25% 0.0
Charlotte 13,378 18,970 75.4% 14,500 1.7% 5.2% $155,000 28% 3.9
Durham 2,637 3,208 49.2% 6,600 2.3% 4.2% $180,174 35% 5.7
Fayetteville 1,822 2,639 61.0% 1,000 0.8% 5.4% $105,671 24% 2.2
Greensboro 3,386 4,537 70.7% 4,400 1.2% 5.3% $148,120 31% 4.7
Greenville 1,240 2,190 85.0% 1,800 2.3% 5.7% $108,159 25% 0.0
Hickory 1,412 1,442 59.3% 100 0.1% 6.4% $109,771 25% 3.2
Raleigh-Cary 11,629 15,670 88.5% 18,100 3.6% 4.0% $192,500 31% 5.0
Rocky Mount 680 747 72.5% (500) (0.8%) 7.3% $93,952 22% 0.0
Wilmington 4,714 5,804 63.0% 2,100 1.4% 4.8% $209,734 44% 6.4
Winston-Salem 2,910 3,258 73.4% 3,100 1.4% 4.9% $124,864 26% 1.2
North Dakota
Bismarck 712 991 90.5% 1,300 2.2% 3.7% $137,856 24% 5.1
Fargo 1,065 1,754 62.2% 2,100 1.8% 3.4% $138,616 26% 4.3
Grand Forks 252 450 66.8% 900 1.7% 4.1% $126,851 28% 5.3
Ohio
Akron 1,243 1,474 36.7% 1,300 0.4% 5.9% $120,000 22% 2.2
Canton 537 649 41.7% (200) (0.1%) 6.6% $100,295 19% 0.1
Cincinnati 4,642 5,964 38.3% 1,500 0.1% 5.2% $142,536 23% 0.4
Cleveland 3,331 3,821 47.8% (6,300) (0.6%) 6.3% $117,685 20% 0.0
Columbus 3,871 5,930 34.6% 9,900 1.1% 4.9% $137,000 22% 1.5
Dayton 1,353 1,510 36.3% (5,000) (1.2%) 6.7% $107,079 19% 0.1
Lima 142 153 30.3% (400) (0.7%) 6.7% $92,786 18% 0.8
Mansfield 112 180 29.9% (900) (1.6%) 7.2% $93,743 19% 1.2
Springfield 135 275 40.1% (400) (0.8%) 6.2% $95,952 17% 0.0
Toledo 1,166 1,931 46.8% (3,800) (1.2%) 7.2% $103,980 19% 0.1
Youngstown 577 785 41.3% (600) (0.3%) 6.8% $71,236 14% 0.1
Oklahoma
Oklahoma City 5,075 5,868 27.1% 2,700 0.5% 3.3% $133,142 25% 5.2
Tulsa 4,166 4,944 40.6% (300) (0.1%) 3.3% $121,007 23% 2.6
Oregon
Bend 1,278 1,445 32.4% 900 1.3% 7.9% $247,809 42% 6.8
Eugene 940 1,319 47.6% 0 0.0% 6.2% $225,159 43% 7.1
Medford 803 826 38.6% 300 0.4% 7.9% $211,521 44% 5.7
Portland 7,134 10,875 55.0% 8,900 0.9% 5.6% $277,500 43% 8.2
Salem 1,237 1,680 49.8% 400 0.3% 6.4% $194,900 33% 6.1
Pennsylvania
Allentown 2,424 2,585 47.8% 400 0.1% 5.6% $234,120 35% 5.5
Altoona 135 289 58.3% 500 0.8% 5.3% $94,796 17% 0.1
Erie 448 677 66.6% 600 0.5% 6.0% $96,875 20% 0.7
Harrisburg 2,068 2,195 58.9% 2,800 0.9% 4.3% $149,154 22% 2.2
Johnstown 134 150 40.2% 0 0.0% 6.3% $82,239 19% 2.3
Lancaster 1,270 1,629 45.1% 2,000 0.9% 4.0% $168,797 25% 2.7
Philadelphia 5,260 7,907 44.4% 8,600 0.5% 5.1% $218,838 31% 4.7
Pittsburgh 3,659 4,279 60.4% 7,900 0.7% 5.2% $119,566 21% 0.6
Reading 900 1,126 51.6% (1,000) (0.6%) 5.2% $152,833 25% 4.5
Scranton 1,216 1,350 62.0% 1,100 0.4% 6.2% $125,239 24% 2.9
State College 494 648 58.7% 1,700 2.3% 4.2% $161,360 30% 3.1
Williamsport 176 185 34.8% (500) (0.9%) 6.4% $110,686 22% 2.0
York 1,804 1,851 58.8% 1,500 0.8% 4.5% $168,099 24% 3.0
Rhode Island
Providence 1,989 2,425 20.6% (9,200) (1.6%) 6.9% $255,013 40% 3.6
South Carolina
Anderson 949 1,012 52.4% (500) (0.8%) 5.9% $101,554 22% 0.4
Charleston 5,291 6,741 62.3% 3,500 1.2% 4.5% $189,900 39% 5.5
Columbia 4,918 6,223 76.7% 5,900 1.6% 4.8% $125,950 24% 4.3
Florence 710 982 74.8% 3,300 3.8% 6.1% $96,145 22% 1.0
Greenville 3,742 4,930 86.3% 8,300 2.6% 4.7% $127,000 28% 5.5
Myrtle Beach 3,192 4,312 36.5% 1,900 1.5% 5.7% $192,423 43% 5.9
Spartanburg 1,436 1,436 52.0% 900 0.7% 5.4% $122,781 27% 5.6
South Dakota
Rapid City 627 947 68.9% 1,300 2.2% 2.9% $122,637 22% 2.4
Sioux Falls 1,357 2,115 83.9% 3,100 2.4% 2.7% $143,687 21% 0.2
Tennessee
Chattanooga 1,855 2,510 65.6% 200 0.1% 5.4% $120,131 23% 0.1
Clarksville 1,404 2,061 59.7% 200 0.2% 6.2% $102,349 20% 0.3
Jackson 423 436 39.0% 500 0.8% 6.2% $90,223 21% 0.1
Johnson City 843 1,314 91.3% 900 1.1% 5.5% $113,449 28% 1.3
Kingsport 961 1,196 77.9% 400 0.3% 5.1% $110,346 25% 0.3
Knoxville 3,645 4,622 71.6% 2,700 0.8% 4.7% $152,024 29% 3.0
Memphis 4,763 6,166 55.8% 1,500 0.2% 6.2% $122,915 24% 0.1
Nashville 9,146 11,648 63.4% 10,900 1.4% 4.9% $154,000 26% 4.7
Texas
Abilene 248 262 12.3% 1,400 2.1% 3.5% $106,700 22% 5.0
Amarillo 616 1,273 34.3% 1,800 1.6% 3.1% $122,300 24% 5.0
Austin 11,151 19,730 74.4% 21,800 2.9% 3.6% $188,000 30% 5.1
Beaumont 1,002 2,537 100.0% (900) (0.5%) 5.4% $121,100 25% 5.2
Brownsville 1,576 1,913 48.8% 500 0.4% 5.8% $90,000 26% 4.5
College Station 880 1,532 43.2% 700 0.8% 3.3% $139,700 31% 3.8
Corpus Christi 1,671 2,230 36.3% 1,100 0.6% 4.2% $144,800 32% 6.0
Dallas 17,330 31,146 42.1% 40,800 2.0% 4.3% $162,200 25% 4.2
El Paso 3,124 4,295 66.4% 7,100 2.6% 5.5% $128,700 30% 4.7
Fort Worth 9,169 13,315 34.6% 17,400 2.0% 4.1% $114,600 18% 3.6
Houston 37,701 56,931 75.8% 80,100 3.2% 4.1% $151,700 25% 5.0
Killeen 2,403 3,288 71.9% 2,300 1.9% 4.4% $110,855 23% 3.3
Laredo 1,120 1,363 56.9% 700 0.8% 5.0% $95,359 25% 0.4
Longview 301 365 23.0% 2,000 2.1% 3.7% $128,300 27% 5.3
Lubbock 894 1,699 40.8% 1,100 0.9% 3.3% $104,100 24% 3.2
Mcallen 4,529 5,910 63.5% 5,200 2.5% 6.4% $89,100 24% 0.0
Midland 528 528 13.6% 2,200 3.4% 2.6% $124,464 22% 5.0
Odessa 245 469 22.2% 3,000 5.2% 3.0% $133,900 28% 5.1
San Antonio 8,043 12,140 54.4% 18,900 2.3% 3.9% $148,900 29% 5.2
Texarkana 208 408 48.3% 800 1.4% 4.3% $80,283 17% 0.2
Tyler 327 420 14.2% 1,000 1.1% 4.4% $130,300 25% 3.5
Waco 713 953 31.9% 3,300 3.1% 3.9% $110,500 26% 2.8
Wichita Falls 200 655 73.1% 700 1.1% 3.9% $82,600 19% 2.1
Utah
Ogden-Clearfield 2,418 2,922 56.9% 3,000 1.5% 3.6% $166,958 24% 2.8
Provo-Orem 3,308 4,027 62.1% 3,700 2.0% 3.5% $193,778 31% 3.4
Salt Lake City 3,547 5,561 44.8% 14,100 2.2% 3.3% $216,532 32% 5.2
St. George 1,490 1,633 42.4% 1,300 2.5% 4.0% $200,988 37% 3.6
Virginia
Charlottesville 1,037 1,213 46.0% 400 0.4% 3.1% $235,460 36% 4.6
Harrisonburg 800 1,230 94.2% 800 1.2% 3.3% $181,048 32% 3.8
Lynchburg 1,281 1,561 84.7% 2,200 2.0% 4.0% $140,325 27% 2.3
Richmond 5,472 6,883 60.3% 3,300 0.5% 4.1% $209,950 33% 5.0
Roanoke 990 1,088 56.4% 500 0.3% 4.0% $143,155 26% 1.6
Virginia Beach 4,417 5,593 23.6% 7,100 0.9% 4.1% $224,018 37% 6.1
Winchester 691 741 41.6% 1,200 2.1% 4.3% $184,848 30% 1.9
Washington
Bellingham 709 1,052 41.2% 2,700 3.2% 5.1% $250,336 44% 5.7
Bremerton 1,102 1,251 48.5% 500 0.6% 5.3% $251,500 35% 5.8
Kennewick 1,232 1,236 37.9% 4,600 5.2% 5.7% $164,676 26% 4.7
Olympia 1,710 2,099 64.0% 3,100 3.1% 5.3% $249,719 34% 6.7
Seattle 7,914 18,737 67.7% 29,400 2.0% 3.8% $399,500 48% 7.1
Spokane 1,902 2,347 53.4% 1,500 0.7% 6.1% $166,000 29% 5.3
Tacoma 3,001 4,362 63.9% 6,300 2.3% 5.9% $260,000 37% 6.3
Yakima 863 994 81.2% 2,200 2.8% 7.7% $169,150 32% 5.3
West Virginia
Charleston 431 459 54.3% 400 0.3% 4.6% $124,800 26% 2.3
Huntington 258 370 58.5% 800 0.7% 5.1% $88,002 20% 0.1
Morgantown 30 198 100.0% 1,200 2.0% 3.8% $127,758 27% 0.2
Parkersburg 204 220 50.2% 700 1.0% 5.6% $89,240 18% 0.1
Wheeling 43 137 46.9% (600) (0.9%) 6.0% $79,507 17% 0.3
Wisconsin
Appleton 640 769 35.3% (200) (0.2%) 5.5% $129,621 19% 2.6
Eau Claire 470 639 44.9% 800 1.0% 5.5% $119,269 20% 1.8
Green Bay 1,430 1,736 55.8% 200 0.1% 5.6% $149,988 23% 2.4
Janesville 422 506 39.5% (300) (0.4%) 6.2% $123,300 21% 4.6
La Crosse 422 581 68.5% 0 0.0% 4.7% $124,195 22% 2.2
Madison 1,360 2,533 41.4% 1,900 0.6% 4.2% $221,546 31% 4.8
Milwaukee 1,905 2,997 34.9% (1,300) (0.2%) 5.4% $219,840 34% 5.6
Oshkosh-Neenah 422 584 40.0% (100) (0.1%) 5.1% $120,970 19% 0.3
Racine 410 516 40.4% (500) (0.6%) 6.6% $150,280 23% 4.5
Sheboygan 189 379 51.7% (200) (0.3%) 4.9% $133,595 23% 4.6
Wausau 368 690 49.5% (400) (0.6%) 5.5% $122,074 19% 0.7
Wyoming
Cheyenne 291 293 33.4% 1,200 2.8% 4.5% $134,912 21% 0.0
About John Burns Real Estate Consulting

There you have it… that’s the May 2008 Real Estate Market Statistic and Indicator report. To use this report, find the state and/or cities you want to invest in and determine the strength of the market overall. A great indicator of how home prices may go is the relative cost of housing to income ratio. For instance, the higher the % the more expensive the homes are in reference to average income in that area. For San Fransisco, home prices are still 93% of the annual income (so, for every $100,000 San Fransicans make… housing costs $93,000).

Anyhow, really dig into these reports and don’t hesitate to shoot me an email if you have questions on what the statistics mean.

Be sure to subscribe to our RSS feed to be updated on our monthly real estate market statistic reports and other great information and tips to help you be a better real estate investor.

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by in Real Estate Investing, Real Estate Markets

About reibrain

Hey, my name is Trevor and I'm the founder of The REI Brain and a real estate investor since the age of 21. Right now, my focus in real estate investing is multi-family income properties and I have plans on moving more into the commercial real estate investment world in 2008 and beyond. All in all... I created this site to provide new and struggling real estate investors truly unbiased, timely, detailed, and comprehensive resources to help you succeed in real estate investing and life!
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