Thursday Thoughts...

At the Valley Board of Realtor's monthly meeting yesterday, we had the opportunity to listen to Neil Fried, Alaska's state economist. He was full of wonderful information and really fun to listen to. I found some of the information from Neil to be very helpful in learning more about real estate in the MatSu Valley. Here are a few highlights from Neil's presentation:

1. The MatSu Valley experienced its 11th year of uninterrupted economic growth.
2. Job growth slowed however in 2007, but still increased.
3. The MatSu lost 170 jobs in the construction field in 2007.
4. 56% of the folks that live in the Valley, work in the Valley...this does not include self-employed or the Federal Government.
5. Mining statewide is up.
6. Oil production is down, but those employed in Prudhoe Bay increased to 9000.
7. There are more registered vehicles in the MatSu Valley than there are PEOPLE!
8. The average home in the MatSu Valley sold for just about $228,000 last year.
9. Those who work with demographic predict the population in the MatSu will rise by 44% by the year 2020.

The overall impression I got from Neil's presentation was that our MatSu Valley economy is strong, though slower than the last 4 years. This is good news to me as I try and make heads or tails out of our nation's economy and our local real estate market.

If any of you get a chance to hear Neil, I highly recommend you doing so. He is very entertaining and so very informative. A big kudos to the Valley Board of Realtors for hosting Neil!