Local Economic Indicators

Did a little research on the trends, to see if it is really that bad. Here are some numbers and trends:

Bend single-family home sales

• 2009, through March 19th 25 sold, $210K median, includes 15 REO/3 short sales
  
• 2008, through March 19th 57 sold, $289K median

Bend real estate listings with a dwelling-current numbers

• Active listings 1813
• Number of these vacant 618

Deschutes County “Notice of Default and Intention to Sell” recordings

• 2009, through March 17th 671
• 2008, through March 17th 264
• 2007, through March 17th 75

Bend single-family housing building permit numbers

• Feb, 2009 7
• Feb, 2008 34

Bend room tax collections (best measure of tourism)

• July 1, 2009-June 30, 2010 Projected 15% decrease
• Jan, 2009 20.1% decrease from Jan, 2008
• Dec, 2008 28.6% decrease from Dec, 2007

Unemployment rates (not seasonally adjusted)

• Bend, Jan, 2009 14.6%
• Bend, Dec, 2008 11.9%
• Bend, June, 2008 6.8%
• Bend, Dec, 2007 6.1%

Oregon, Feb, 2009 10.9% (21,700 jobs lost in February, most since recordkeeping started in 1977; highest unemployment rate since July, 1983)

• Oregon, Jan, 2009 9.8% (13,000 jobs lost)
• Oregon, Dec, 2008 8.8%
• Oregon, June, 2008 5.8%
• Oregon, Dec, 2007 5.3%

Partial list of recent Central Oregon layoffs

• Cascade Healthcare Feb. 10, 2009 74
• Cessna Nov. 12, 2008 165
• Cessna Jan. 28, 2009 120 (only 200 employees left working)
• Jeld-Wen Jan, 22, 2009 51
• Les Schwab HQ Jan. 27, 2009 25

Major job increases

• iSky/TRG March 15, 2009 350 @ $10/hour

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Walking the dog this morning, I counted six for rent signs in one block of Garfield just off Summer Lake. Definitely reality check time.