Riverside Economic Report June 2010

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Riverside Economic Report June 2010 California Association of Realtors

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Riverside Economic Report June 2010

  1. 1. Riverside County<br />Economic Profile<br />June 2010<br />The copyright laws of the United States (Title 17 U.S. Code) forbid the unauthorized reproduction of this report by any means,<br />including facsimile or computerized formats. Copyright © 2010, CALIFORNIA ASSOCIATION OF REALTORS®<br />
  2. 2. Riverside County Profile<br />
  3. 3. Sales of Existing Detached Homes and Pacific West Consumer Confidence<br />Riverside County, May 2010: 1,618 Units, Down 17.8% YTD, Down 17.5% YTY<br />Sales<br />Consumer Confidence<br />UNITS<br />2500<br />INDEX<br />160<br />140<br />2000<br /> 120<br />100<br />80<br />60<br />1500<br />1000<br />40<br />500<br /> 20<br />0<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®;<br />The Conference Board<br />0<br />Jul-90<br />Jul-91<br />Jul-92<br />Jul-93<br />Jul-94<br />Jul-95<br />Jul-96<br />Jul-97<br />Jul-98<br />Jul-99<br />Jul-00<br />Jul-01<br />Jul-02<br />Jul-03<br />Jul-04<br />Jul-05<br />Jul-06<br />Jul-07<br />Jul-08<br />Jul-09<br />Jan-90<br />Jan-91<br />Jan-92<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />Jan-06<br />Jan-07<br />Jan-08<br />Jan-09<br />Jan-10<br />
  4. 4. Sales of Existing Detached Homes<br />Riverside County, 2009: 21,026 Units, Up 21.7% YTY<br />MONTHLY<br />ANNUAL<br />UNITS<br />25,000<br />20,000<br />15,000<br />10,000<br />2,500<br />2,000<br />1,500<br />1,000<br />5,000<br /> 0<br />2006<br />2007<br />2008<br />2009<br />2010<br />500<br />0<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®<br />1989<br />1992<br />1995<br />1998<br />2001<br />2004<br />2007<br />Jul<br />Oct<br />Apr<br />Jan<br />Jun<br />Feb<br />Nov<br />Aug<br />Dec<br />Mar<br />May<br />Sept<br />
  5. 5. Median Price of Existing Detached Homes<br />Riverside County, May 2010: $205,040, Up 25.5% YTY<br />$500,000<br />$450,000<br />$400,000<br />$350,000<br />$300,000<br />$250,000<br />$200,000<br />$150,000<br />$100,000<br />$50,000<br />$0<br />Jul-90<br />Jul-91<br />Jul-92<br />Jul-93<br />Jul-94<br />Jul-95<br />Jul-96<br />Jul-97<br />Jul-98<br />Jul-99<br />Jul-00<br />Jul-01<br />Jul-02<br />Jul-03<br />Jul-04<br />Jul-05<br />Jul-06<br />Jul-07<br />Jul-08<br />Jul-09<br />Jan-90<br />Jan-91<br />Jan-92<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />Jan-06<br />Jan-07<br />Jan-08<br />Jan-09<br />Jan-10<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®<br />
  6. 6. Median Price Annual Comparison<br />Riverside County, 2009: $172,714, Down 27.7% YTY<br />MONTHLY<br />ANNUAL<br />$450,000<br />$400,000<br />$350,000<br />$300,000<br />$250,000<br />$200,000<br />$150,000<br />$450,000<br />$400,000<br />$350,000<br />$300,000<br />$250,000<br />$200,000<br />$150,000<br />$100,000<br /> $50,000<br /> $-<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®<br />$100,000<br /> $50,000<br /> $-<br />2006<br />2007<br />2008<br />2009<br />2010<br />1989<br />1991<br />1993<br />1995<br />1997<br />1999<br />2001<br />2003<br />2005<br />2007<br />2009<br />Jul<br />Oct<br />Jan<br />Jun<br />Apr<br />Nov<br />Feb<br />Mar<br />Dec<br />Aug<br />May<br />Sept<br />
  7. 7. Median Home Sales Price<br />Riverside County<br />Yearly %<br /> Change<br />May-10<br />May-09<br />Riverside County<br />Banning<br />Beaumont<br />Cathedral City<br />Corona<br />Desert Hot Springs<br />Hemet<br />Indio<br />La Quinta<br />Lake Elsinore<br />Menifee<br />Mira Loma<br />Moreno Valley<br />$210,000<br />$147,000<br />$206,000<br />$162,000<br />$336,750<br />$110,000<br />$130,000<br />$189,250<br />$330,000<br />$180,000<br />$215,000<br />$340,000<br />$165,000<br />$180,000<br />$112,500<br />$199,000<br />$153,955<br />$308,000<br /> $82,000<br />$121,000<br />$171,000<br />$325,000<br />$170,000<br />$205,500<br />$277,500<br />$130,000<br />16.7%<br />30.7%<br /> 3.5%<br /> 5.2%<br /> 9.3%<br />34.1%<br /> 7.4%<br />10.7%<br /> 1.5%<br /> 5.9%<br /> 4.6%<br />22.5%<br />26.9%<br />SOURCE: C.A.R.; DataQuick Information Systems. The<br />price statistics are derived from all types of home sales --<br />new and existing, condos and single-family.<br />
  8. 8. Median Home Sales Price<br />Riverside County<br />Yearly %<br /> Change<br />May-10<br />May-09<br />Murrieta<br />Norco<br />Palm Desert<br />Palm Springs<br />Perris<br />Rancho Mirage<br />Riverside<br />San Jacinto<br />Sun City<br />Temecula<br />Wildomar<br />Winchester<br />$249,000<br />$297,250<br />$308,000<br />$227,250<br />$170,000<br />$490,000<br />$200,000<br />$135,500<br />$175,000<br />$270,000<br />$210,000<br />$235,500<br />$230,000<br />$370,000<br />$295,000<br />$200,000<br />$132,000<br />$459,000<br />$177,000<br />$130,000<br />$146,500<br />$240,000<br />$233,000<br />$240,000<br />8.3%<br />-19.7%<br /> 4.4%<br /> 13.6%<br /> 28.8%<br /> 6.8%<br /> 13.0%<br /> 4.2%<br /> 19.5%<br /> 12.5%<br /> -9.9%<br /> -1.9%<br />SOURCE: C.A.R.; DataQuick Information Systems. The<br />price statistics are derived from all types of home sales --<br />new and existing, condos and single-family.<br />
  9. 9. Unsold Inventory Index<br />Riverside and San Bernardino Counties, May 2010: 4.1 Months<br />MONTHS<br />30<br />Inland Empire<br /> 25<br /> 20<br /> 15<br /> 10<br /> 5<br /> 0<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®<br />Riverside & San Bernardino<br />Jul-93<br />Jul-94<br />Jul-95<br />Jul-96<br />Jul-97<br />Jul-98<br />Jul-99<br />Jul-00<br />Jul-01<br />Jul-02<br />Jul-03<br />Jul-04<br />Jul-05<br />Jul-06<br />Jul-07<br />Jul-08<br />Jul-09<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />Jan-06<br />Jan-07<br />Jan-08<br />Jan-09<br />Jan-10<br />
  10. 10. Median Time on the Market<br />Single-Family Homes – Riverside/San Bernardino, May 2010: 31.3 Days<br />140<br />120<br />100<br />80<br />60<br />40<br />20<br />0<br />1/1/1989<br />1/1/1990<br />1/1/1991<br />1/1/1992<br />1/1/1993<br />1/1/1994<br />1/1/1995<br />1/1/1996<br />1/1/1997<br />1/1/1998<br />1/1/1999<br />1/1/2000<br />1/1/2001<br />1/1/2002<br />1/1/2003<br />1/1/2004<br />1/1/2005<br />1/1/2006<br />1/1/2007<br />1/1/2008<br />1/1/2009<br />1/1/2010<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®<br />
  11. 11. Foreclosures<br />Riverside County<br />14000<br />12000<br />10000<br />8000<br />6000<br />4000<br />2000<br />0<br />Q1/89<br />Q1/90<br />Q1/91<br />Q1/92<br />Q1/93<br />Q1/94<br />Q1/95<br />Q1/96<br />Q1/97<br />Q1/98<br />Q1/99<br />Q1/00<br />Q1/01<br />Q1/02<br />Q1/03<br />Q1/04<br />Q1/05<br />Q1/06<br />Q1/07<br />Q1/08<br />Q1/09<br />SOURCE: Real Estate Research Council<br />
  12. 12. Ratio of Foreclosures to Home Sales<br />Riverside County<br />80%<br />70%<br />60%<br />50%<br />40%<br />30%<br />20%<br />10%<br />0%<br />1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009<br />SOURCE: Real Estate Research Council<br />
  13. 13. Mortgage Rates<br />10%<br /> 9%<br /> 8%<br /> 7%<br /> 6%<br /> 5%<br />FRM<br />ARM<br />Federal Funds<br />4%<br />3%<br />2%<br /> 1%<br /> 0%<br />SOURCE: Federal Home Loan Mortgage Corporation<br />Jul-91<br />Jul-92<br />Jul-93<br />Jul-94<br />Jul-95<br />Jul-96<br />Jul-97<br />Jul-98<br />Jul-99<br />Jul-00<br />Jul-01<br />Jul-02<br />Jul-03<br />Jul-04<br />Jul-05<br />Jul-06<br />Jul-07<br />Jul-08<br />Jul-09<br />Jan-91<br />Jan-92<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />Jan-06<br />Jan-07<br />Jan-08<br />Jan-09<br />Jan-10<br />
  14. 14. Housing Affordability Index<br />Riverside County, 1st Quarter 2010: 63%<br />% OF HOUSEHOLDS THAT CAN BUY<br />80%<br /> 60%<br /> 40%<br /> 20%<br /> 0%<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®<br />QTRLY<br />Monthly<br />----<br />Jul-90<br />Jul-91<br />Jul-92<br />Jul-93<br />Jul-94<br />Jul-95<br />Jul-96<br />Jul-97<br />Jul-98<br />Jul-99<br />Jul-00<br />Jul-01<br />Jul-02<br />Jul-03<br />Jul-04<br />Jul-05<br />2007.2<br />2008.4<br />Jan-90<br />Jan-91<br />Jan-92<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />
  15. 15. First-time Buyer Housing Affordability Index<br />Riverside County, 1st Quarter 2010: 77%<br />% OF HOUSEHOLDS THAT CAN BUY<br />100%<br />90%<br />80%<br />70%<br />60%<br />50%<br />40%<br />30%<br />20%<br />10%<br />0%<br />Q1/03<br />Q3/03<br />Q1/04<br />Q3/04<br />Q1/05<br />Q3/05<br />Q1/06<br />Q3/06<br />Q1/07<br />Q3/07<br />Q1/08<br />Q3/08<br />Q1/09<br />Q3/09<br />Q1/10<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®<br />
  16. 16. Nonfarm Employment<br />Riverside/San Bernardino Metropolitan Area, May 2010: Down 3.1% YTY<br />Y-T-Y PERCENT CHANGE<br />10%<br />8%<br />6%<br />4%<br />2%<br />0%<br />-2%<br />-4%<br />-6%<br />-8%<br />-10%<br />Jul-91<br />Jul-92<br />Jul-93<br />Jul-94<br />Jul-95<br />Jul-96<br />Jul-97<br />Jul-98<br />Jul-99<br />Jul-00<br />Jul-01<br />Jul-02<br />Jul-03<br />Jul-04<br />Jul-05<br />Jul-06<br />Jul-07<br />Jul-08<br />Jul-09<br />Jan-91<br />Jan-92<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />Jan-06<br />Jan-07<br />Jan-08<br />Jan-09<br />Jan-10<br />SOURCE: CA Employment Development Division<br />
  17. 17. Unemployment Rate<br />Riverside County, May 2010: 14.0%<br />16%<br />14%<br />12%<br />10%<br />8%<br />6%<br />4%<br />2%<br />0%<br />Jul-90<br />Jul-91<br />Jul-92<br />Jul-93<br />Jul-94<br />Jul-95<br />Jul-96<br />Jul-97<br />Jul-98<br />Jul-99<br />Jul-00<br />Jul-01<br />Jul-02<br />Jul-03<br />Jul-04<br />Jul-05<br />Jul-06<br />Jul-07<br />Jul-08<br />Jul-09<br />Jan-90<br />Jan-91<br />Jan-92<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />Jan-06<br />Jan-07<br />Jan-08<br />Jan-09<br />Jan-10<br />SOURCE: CA Employment Development Division<br />
  18. 18. Unemployment Rate<br />Riverside County – May 2010<br />Area Name<br />Riverside County<br />Banning city<br />Beaumont city<br />Bermuda Dunes CDP<br />Blythe city<br />Cabazon CDP<br />Calimesa city<br />Canyon Lake city<br />Cathedral City city<br />Cherry Valley CDP<br />Coachella city<br />Corona city<br />Desert Hot Springs city<br />East Hemet CDP<br />El Cerrito CDP<br />Glen Avon CDP<br />Labor Force<br />909,400<br /> 11,600<br /> 6,800<br /> 4,300<br /> 7,100<br /> 1,200<br /> 4,100<br /> 6,400<br /> 26,100<br /> 3,300<br /> 12,300<br /> 83,300<br /> 9,500<br /> 8,800<br /> 3,000<br /> 8,500<br />Rate<br />14.0%<br />15.9%<br />15.9%<br /> 6.5%<br />16.7%<br />33.2%<br />10.7%<br /> 8.6%<br />13.7%<br />12.5%<br />21.7%<br />10.3%<br />19.5%<br />14.5%<br />15.7%<br />15.6%<br />CCD Census County Division<br />CDP Census Designated Place<br />SOURCE: CA Employment Development Department<br />
  19. 19. Unemployment Rate<br />Riverside County – May 2010<br />Area Name<br />Hemet city<br />Highgrove CDP<br />Home Gardens CDP<br />Homeland CDP<br />Idyllwild Pine Cove CDP<br />Indian Wells city<br />Indio city<br />La Quinta city<br />Lake Elsinore city<br />Lakeland Village CDP<br />Lakeview CDP<br />March AFB CDP<br />Mecca CDP<br />Mira Loma CDP<br />Moreno Valley city<br />Murrieta city<br />Labor Force<br />26,700<br /> 2,000<br /> 5,800<br /> 1,600<br /> 2,600<br /> 1,700<br /> 27,200<br /> 14,600<br /> 17,100<br /> 3,400<br /> 1,000<br /> 200<br /> 3,500<br /> 10,600<br /> 87,500<br /> 27,100<br />Rate<br />17.5%<br />17.6%<br />15.3%<br />26.5%<br />18.1%<br /> 5.0%<br />15.1%<br /> 7.4%<br />13.6%<br />21.8%<br />16.6%<br />14.2%<br />27.1%<br />13.6%<br />16.1%<br /> 9.3%<br />CCD Census County Division<br />CDP Census Designated Place<br />SOURCE: CA Employment Development Department<br />
  20. 20. Unemployment Rate<br />Riverside County – May 2010<br />Area Name<br />Murrieta Hot Springs CDP<br />Norco city<br />Nuevo CDP<br />Palm Desert city<br />Palm Springs city<br />Pedley CDP<br />Perris city<br />Quail Valley CDP<br />Rancho Mirage city<br />Riverside city<br />Romoland CDP<br />Rubidoux CDP<br />San Jacinto city<br />Sedco Hills CDP<br />Sun City CDP<br />Labor Force<br />1,100<br /> 13,500<br /> 2,400<br /> 24,700<br /> 26,100<br /> 7,300<br /> 19,800<br /> 1,000<br /> 6,400<br /> 160,000<br /> 1,500<br /> 17,200<br /> 12,500<br /> 1,500<br /> 6,300<br />Rate<br />17.3%<br />11.4%<br />11.4%<br /> 8.4%<br />10.9%<br /> 9.9%<br />21.4%<br />22.0%<br />12.5%<br />14.1%<br />21.6%<br />19.5%<br />20.8%<br />15.0%<br />14.9%<br />CCD Census County Division<br />CDP Census Designated Place<br />SOURCE: CA Employment Development Department<br />
  21. 21. Unemployment Rate<br />Riverside County – May 2010<br />Area Name<br />Sunnyslope CDP<br />Temecula city<br />Thousand Palms CDP<br />Valle Vista CDP<br />Wildomar CDP<br />Winchester CDP<br />Woodcrest CDP<br />Labor Force<br />2,500<br /> 36,300<br /> 2,500<br /> 5,600<br /> 8,100<br /> 1,500<br /> 5,600<br />Rate<br />12.4%<br /> 9.6%<br /> 9.8%<br />14.9%<br />12.3%<br />20.2%<br /> 8.8%<br />CCD Census County Division<br />CDP Census Designated Place<br />SOURCE: CA Employment Development Department<br />
  22. 22. Taxable Sales<br />Riverside County<br />ANNUAL PERCENT CHANGE<br />25%<br />20%<br />15%<br />10%<br />5%<br />0%<br />-5%<br />-10%<br />-15%<br />-20%<br />Q1/89<br />Q3/89<br />Q1/90<br />Q3/90<br />Q1/91<br />Q3/91<br />Q1/92<br />Q3/92<br />Q1/93<br />Q3/93<br />Q1/94<br />Q3/94<br />Q1/95<br />Q3/95<br />Q1/96<br />Q3/96<br />Q1/97<br />Q3/97<br />Q1/98<br />Q3/98<br />Q1/99<br />Q3/99<br />Q1/00<br />Q3/00<br />Q1/01<br />Q3/01<br />Q1/02<br />Q3/02<br />Q1/03<br />Q3/03<br />Q1/04<br />Q3/04<br />Q1/05<br />Q3/05<br />Q1/06<br />Q3/06<br />Q1/07<br />Q3/07<br />Q1/08<br />Q3/08<br />Q1/09<br />SOURCE: CA State Board of Equalization<br />
  23. 23. New Housing Permits<br />Riverside County, April 2010: 368 Units, Up 14.2% YTD<br />5000<br />4500<br />Single Family<br />Multi-Family<br />4000<br />3500<br /> 3000<br /> 2500<br /> 2000<br /> 1500<br /> 1000<br /> 500<br /> 0<br />SOURCE: Construction Industry Research Board<br />Jan-88<br />Jan-89<br />Jan-90<br />Jan-91<br />Jan-92<br />Jan-93<br />Jan-94<br />Jan-95<br />Jan-96<br />Jan-97<br />Jan-98<br />Jan-99<br />Jan-00<br />Jan-01<br />Jan-02<br />Jan-03<br />Jan-04<br />Jan-05<br />Jan-06<br />Jan-07<br />Jan-08<br />Jan-09<br />Jan-10<br />
  24. 24. Median Price for New Homes<br />Riverside County 1Q10 Detached: $285,323, Attached: $196,990<br />$500,000<br /> $450,000<br /> $400,000<br /> Detached<br />$350,000<br /> $300,000<br /> $250,000<br /> $200,000<br /> $150,000<br /> $100,000<br /> $50,000<br /> $0<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®;<br />Hanley Wood<br />Attached<br />Q1/88<br />Q1/89<br />Q1/90<br />Q1/91<br />Q1/92<br />Q1/93<br />Q1/94<br />Q1/95<br />Q1/96<br />Q1/97<br />Q1/98<br />Q1/99<br />Q1/00<br />Q1/01<br />Q1/02<br />Q1/03<br />Q1/04<br />Q1/05<br />Q1/06<br />Q1/07<br />Q1/08<br />Q1/09<br />Q1/10<br />
  25. 25. New Home Sales<br />Riverside County (Attached), 2010 Q1 Sales: 85 Units<br />1200<br />1000<br />800<br />600<br />400<br />200<br />0<br />Q1/88<br />Q3/88<br />Q1/89<br />Q3/89<br />Q1/90<br />Q3/90<br />Q1/91<br />Q3/91<br />Q1/92<br />Q3/92<br />Q1/93<br />Q3/93<br />Q1/94<br />Q3/94<br />Q1/95<br />Q3/95<br />Q1/96<br />Q3/96<br />Q1/97<br />Q3/97<br />Q1/98<br />Q3/98<br />Q1/99<br />Q3/99<br />Q1/00<br />Q3/00<br />Q1/01<br />Q3/01<br />Q1/02<br />Q3/02<br />Q1/03<br />Q3/03<br />Q1/04<br />Q3/04<br />Q1/05<br />Q3/05<br />Q1/06<br />Q3/06<br />Q1/07<br />Q3/07<br />Q1/08<br />Q3/08<br />Q1/09<br />Q3/09<br />Q1/10<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®;<br />Hanley Wood<br />
  26. 26. New Home Sales<br />Riverside County (Detached), 2010 Q1 Sales: 774 Units<br />8000<br />7000<br />6000<br />5000<br />4000<br />3000<br />2000<br />1000<br />0<br />Q1/88<br />Q3/88<br />Q1/89<br />Q3/89<br />Q1/90<br />Q3/90<br />Q1/91<br />Q3/91<br />Q1/92<br />Q3/92<br />Q1/93<br />Q3/93<br />Q1/94<br />Q3/94<br />Q1/95<br />Q3/95<br />Q1/96<br />Q3/96<br />Q1/97<br />Q3/97<br />Q1/98<br />Q3/98<br />Q1/99<br />Q3/99<br />Q1/00<br />Q3/00<br />Q1/01<br />Q3/01<br />Q1/02<br />Q3/02<br />Q1/03<br />Q3/03<br />Q1/04<br />Q3/04<br />Q1/05<br />Q3/05<br />Q1/06<br />Q3/06<br />Q1/07<br />Q3/07<br />Q1/08<br />Q3/08<br />Q1/09<br />Q3/09<br />Q1/10<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®;<br />Hanley Wood<br />
  27. 27. Asking Rents for Class A&B Apartments<br />Inland Empire, 2010 Q1: $1,054 Down 5.2% YTY<br />$1,200<br />$1,000<br />$800<br />$600<br />$400<br />$200<br />$0<br />Q3/97<br />Q2/98<br />Q1/99<br />Q4/99<br />Q3/00<br />Q2/01<br />Q1/02<br />Q4/02<br />Q3/03<br />Q2/04<br />Q1/05<br />Q4/05<br />Q3/06<br />Q2/07<br />Q1/08<br />Q4/08<br />Q3/09<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®;<br />REALFACTS<br />
  28. 28. Vacancy Rates for Class A&B Apartments<br />Inland Empire, 2010 Q1: 7.2%<br />VACANCY RATE<br />9.0%<br />8.0%<br />7.0%<br />6.0%<br />5.0%<br />4.0%<br />3.0%<br />2.0%<br />1.0%<br />0.0%<br />1990<br />1993<br />Q4/95<br />Q2/97<br />Q1/98<br />Q4/98<br />Q3/99<br />Q2/00<br />Q1/01<br />Q4/01<br />Q3/02<br />Q2/03<br />Q1/04<br />Q4/04<br />Q3/05<br />Q2/06<br />Q1/07<br />Q4/07<br />Q3/08<br />Q2/09<br />Q1/10<br />SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®;<br />REALFACTS<br />
  29. 29. Population Percent Changes<br />Riverside County (1971-2008)<br />10.0%<br /> 9.0%<br />8.0%<br />7.0%<br />Riverside County<br />CA<br />Nation<br />6.0%<br /> 5.0%<br /> 4.0%<br /> 3.0%<br /> 2.0%<br /> 1.0%<br /> 0.0%<br />SOURCE:U.S. Census Bureau;<br />California Department of Finance;<br />CALIFORNIA ASSOCIATION OF REALTORS®<br />1971<br />1972<br />1973<br />1974<br />1975<br />1976<br />1977<br />1978<br />1979<br />1980<br />1981<br />1982<br />1983<br />1984<br />1985<br />1986<br />1987<br />1988<br />1989<br />1990<br />1991<br />1992<br />1993<br />1994<br />1995<br />1996<br />1997<br />1998<br />1999<br />2000<br />2001<br />2002<br />2003<br />2004<br />2005<br />2006<br />2007<br />2008<br />
  30. 30. Sources of Population Growth<br />Riverside County (1981-2008)<br />THOUSANDS<br />120<br />Natural Increase<br />100<br />Net Migration<br /> 80<br /> 60<br /> 40<br /> 20<br /> 0<br />SOURCE: CA Department of Finance<br />06<br />81<br />82<br />07<br />08<br />83<br />84<br />85<br />86<br />87<br />88<br />89<br />91<br />90<br />94<br />92<br />93<br />96<br />95<br />97<br />98<br />99<br />00<br />01<br />02<br />03<br />04<br />05<br />20<br />19<br />19<br />20<br />20<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />19<br />20<br />20<br />20<br />20<br />20<br />20<br />
  31. 31. Net Immigration Vs. Domestic Migration<br />Riverside County<br />THOUSANDS<br />Net Immigration<br />60<br />Domestic Migration<br />50<br />40<br />30<br />20<br />10<br /> 0<br />1991<br />1993<br />1995<br />1997<br />1999<br />2001<br />2003<br />2005<br />2007<br />SOURCE: CA Department of Finance<br />
  32. 32. Household Relocations<br />Riverside County<br />County<br />San Bernardino County, CA<br />Orange County, CA<br />Los Angeles County, CA<br />San Diego County, CA<br />Clark County, NV<br />Maricopa County, AZ<br />Imperial County, CA<br />Ventura County, CA<br />Kern County, CA<br />Santa Clara County, CA<br />Total-Top 10<br />All Migration<br />Outflow<br />7,330<br /> 6,165<br /> 5,794<br /> 4,706<br /> 959<br /> 901<br /> 488<br /> 330<br /> 301<br /> 259<br /> 27,233<br /> 42,086<br />Inflow<br />9,914<br /> 6,970<br /> 9,442<br /> 4,682<br /> 728<br /> 612<br /> 339<br /> 332<br /> 259<br /> 271<br />33,549<br />44,893<br />Net Outflow<br />(2,584)<br /> (805)<br /> (3,648)<br /> 24<br /> 231<br /> 289<br /> 149<br /> (2)<br /> 42<br /> (12)<br /> (6,316)<br /> (2,807)<br />621,197<br /> -1.0%<br /> -0.5%<br />Total Number of Households<br /> Top 10 as % of All Households<br /> All Net Mig as % of All Households<br />Source: NAR Relocation Report 2008 – IRS Data; Item 187-06065, US Census Bureau<br />
  33. 33. Where are new Riverside County<br /> households coming from?<br />•<br />•<br />•<br />•<br />•<br />•<br />•<br />San Bernardino (9,914)<br />Los Angeles (9,442)<br />Orange County (6,970)<br />San Diego (4,682)<br />Clark (728)<br />Total incoming for 2008: 44,893<br />Total outgoing for 2008: 42,086<br />Source: NAR Relocation Report 2008 – IRS Data; Item 187-06065<br />
  34. 34. Net Immigration by Ethnic Group<br />Riverside County (1990 Census to 2000 Census)<br />White, Non-Hispanic<br /> Hispanic<br />Asian/Pacific Islander<br /> Black or Afr. Amer.,<br /> Non-Hisp.<br />Amer. Indian & Alaska<br /> Native, Non-Hisp.<br />0<br />20<br />40<br />60<br />80<br />100<br />120<br />140<br />160<br />Thousands<br />SOURCE: CA Dept. of Finance<br />
  35. 35. Number of Households by Ethnicity<br />Riverside County (1990 Census vs. 2000 Census)<br />White<br /> Hispanic<br />Asian/Pacific Islander<br />1990<br />2000<br />Black<br />0<br />SOURCE: U.S. Census Bureau<br />50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000<br />
  36. 36. Top 10 Home Buyer Surnames<br />Riverside County<br />GARCIA<br /> MARTINEZ<br /> GONZALEZ<br /> RODRIGUEZ<br /> LOPEZ<br />HERNANDEZ<br /> PEREZ<br /> SMITH<br /> SANCHEZ<br /> RAMIREZ<br />0<br />50<br />100<br />150<br />200<br />250<br />300<br />Number of Buyers<br />Note: Data is based on 2007 data.<br />SOURCE: DataQuick Information Systems<br />
  37. 37. Population by Age Group<br />Riverside County (2000-2010)<br />Thousands<br />2000<br />500<br />2010<br />450<br />400<br />350<br />300<br />250<br />200<br />150<br />100<br /> 50<br /> 0<br />0-14<br />15-24<br />25-34<br />35-44<br />45-54<br />55-64<br />65-74<br />75+<br />SOURCE: California Department of Finance;<br />CALIFORNIA ASSOCIATION OF REALTORS®<br />
  38. 38. Homeownership Rates<br />Riverside-San Bernardino Metropolitan Area, 2009: 65.9%<br />79%<br />66%<br />53%<br />40%<br />26%<br />13%<br />0%<br />1986<br />1987<br />1988<br />1989<br />1990<br />1991<br />1992<br />1993<br />1994<br />1995<br />1996<br />1997<br />1998<br />1999<br />2000<br />2001<br />2002<br />2003<br />2004<br />2005<br />2006<br />2007<br />2008<br />2009<br />SOURCE: U.S. Census Bureau<br />
  39. 39. Homeownership Rates by Age<br />Riverside County (2000 Census)<br />100%<br /> 80%<br /> 60%<br /> 40%<br /> 20%<br /> 0%<br />15-24<br />25-34<br />35-44<br />45-54<br />55-64<br />65-74<br />75-84<br />85+<br />SOURCE: California Department of Finance;<br />CALIFORNIA ASSOCIATION OF REALTORS®<br />

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