Come Walk With Us!!!

If you have been thinking about getting out and getting some great exercise, come join us...we walk all over Portland and Vancouver...we are training for the 2007 Marathon, however, it is not a requirement...

Go to our website and see who and what we are about...we would love to have you!!!

Economic News - Clark County/SW Washington

Economic Forecast as reported in the Columbian News Paper, Sunday 21 January 2007

Jobs - 3,100 new jobs in 2007 for Clark County.

• preliminary estimates indicate that Clark County's non farm employment grew by 4,400 jobs, or 3.3. percent in 2006. By the end of this year, look for around 3,100
• Construction, could see 400 jobs.
• Total number of factory jobs will likely go up slightly.

Tourism:

• Two new properties in Battle Ground and east Vancouver will increase hotel room inventory in Clark County
• A 10 percent growth in direct travel spend
• Tourism jobs are projected to be 10,800

Home Sales: Homes sales are poised to make a turnaround

• In 2006, homes sales are estimated at 10,450, a 21 percent decline form 2005. In addition, new home sales as a percentage of the total number of sales has declined from 29 percent in 2004, to 23 percent in 2005, and 20 percent in 2006.
• In 2007, thanks to more inventory, stable interest rates and increasing demand homes sales could match 2005, approx 13,000.

Economic Development: Numbers look positive:

• Several companies will make relocation announcements regarding Clark County projects in the first quarter that could result in an estimated 500 new jobs.
• technology and knowledge-based businesses will continue to drive strong shorter-term job growth in Clark County
• Groundwork laid at Washington State University Vancouver and this year through the Washington Technology Center is expected to support long-term innovation expansion in SW Washington.

Retail: More choices, gas prices lure shoppers:

• Clark County retail sales growth will continue to outpace population growth due to increased shopping opportunities. A store-only sales increase of 11 percent to 13 percent in 2007 is likely.
• Sales leakage to Oregon will decline with the opening of new stores in Clark County.
• One million square feet of new retail space will be completed or will be under construction during 2007
• Expect new retail projects in Washougal, Ridgefield, Woodland and Battle Ground.

Energy: Gas, Electricity should fall...

• Energy commodity prices generally could decline given normal weather and no major global disruptions.
• Natural gas markets are poised for a possible price collapse with storage levels higher than at any time in the past 1o years. Natural gas prices to consumers are likely to be stable or will decline.
• Electricity prices at the commodity level will tend to follow natural gas prices lower. Consumer prices also might decrease.

Health Care: Look for job growth, improved access:

• Capital expansion by Clark County's health care industry will continue to drive overall industry employment growth this year, up an estimated 4.5 percent.
• However, a region-wide shortage of nurses will also continue. The statewide vacancy rate for nursing positions reached 12 percent in 2006. Approximately 1,600 nursing jobs remain open.

Mortgages: Home sales should fall, rates to inch up:

• Long term fixed mortgage rates, while expected to rise over the new year, will very likely not get up to even 7% and the increases should not be seen until midyear or later.
• Expect one-year adjustable rate mortgages to max at 5.5 percent and longer term five-year Treasury-indexed ARMS to stay under 6 percent.
• Home sales will continue to decline about 8 percent for both new and existing homes and there will be continued slowing in home prices appreciation.
• We will continue to see a housing recession with more opportunity for buyers.