Housing Cycle: New Owner Demand vs. Renter Demand

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Presentation transcript:

Housing Cycle: New Owner Demand vs. Renter Demand

Homeownership Rates for the US and West Region, 1964 to 2016

King and Snohomish Counties Housing

Pierce County Housing Permits

Units Authorized by the Western Census Region

Housing Permits Issued in the US

Why so few single family homes? The end of sub-urbanization and the popularity of urban living. Demographic shifts. Type of in-migration. Aging population of homeowners = stability. Declining volume of single-family turnover. Housing crash Tighter credit. Gun shy buyers. No appreciation, so why buy? New employment concentrated in city core. Affordability issues.

If we are not building new single family homes or condos– Where are new households going to live?

Projected Population Distribution by Age, 2010-2030

US Birth Rates, 1909-2009

Employment by Annual Percentage Change

Population Growth

Seattle Metropolitan Historical and Forecast Households

Seattle MD Apartment Forecast Summary

Components of Shelter

Two-Year Supply Survey

Two-Year Apartment Market Summary

Two Year Market Breakdown

Vacancy History Chart June 2006-June 2017

Seattle MD Balance Chart

Seattle Balance Chart

Eastside Balance Chart

Southend Balance Chart

Snohomish Balance Chart

Downtown Seattle Core Apartment Supply 2010-2020