Unemployment numbers are in for King and Kitsap Counties. Both of them are right around 8.4% and 8.2%. These are positive signs, being one of the best employed areas in the State of Washington. It has proven lately that in the stabilization of values of houses, unemployment directly correlates to the overall value of supply and demand. The more people who have more jobs, obviously, the more capability of buying houses. In King and Kitsap Counties, the home loan applications are at a two-and-a-half year high, so this is a positive sign that going into 2011 and 2012, in my opinion, the housing market should show signs of improvement, or at worst a stabilization in values. The area has seen a huge decrease in values, but since we can cycle through the majority of foreclosures in the area, we will strongly hit recovery based on employment. Ideally we would like to get unemployment around 5% or 6%. That would show high strength in overall value of houses in King and Kitsap counties.
NMLS # 70269
Sr. VA Loan Specialist