A recent state report shows that Pullman's single family housing market is staying above the national decline in the current economic conditions, the Pullman City Council reported Tuesday night.
According to the latest report from the State of Washington State Economic and Revenue Report Council, current economic conditions illustrate that 2011 will be the worst year on record for single family housing markets in the nation, City Supervisor John Sherman(CQ) said.
The report, issued on Dec. 12, 2011, predicted a “muddle through” economy characterized by slow growth, high unemployment and weak consumer confidence.
“In 2011, the Pullman market, in terms of residential sales, was 7 percent higher than it was in 2010,” Sherman said. “In that category, although nationally it was low, (Pullman) was on the rebound.”
In terms of single family building permits, Pullman issued 24 permits, the lowest number since 1990, he said.
“We are seeing that continually declining in single family, but it is nowhere near the record low,” Sherman said. “The news in Pullman is not nearly as bad as what it was nationally within the housing market. I think this is important to point out.”
The State of Washington is expected to do better than the nation in economic recovery, he said.
MAYOR’S ANNOUNCEMENTS FOR THE NEW YEAR
- A copy of the year-end review can be found on the city website.
- Citizens’ 2012 goals for the city must be sent to the mayor’s office by the end of January for the Annual Goal Setting Process.
- Pullman Transit reached an all time record high ridership of 1, 533,546 in 2011.
- Nathan Weller is now officially certified through the AWC Municipal Leadership training program.