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Coachella Valley Economic Overview

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									Coachella Valley Economic
        Overview

  Presented by Bob Marra, President
              Wheeler’s
             Document usage notice

This presentation is intended for the sole use of members of the California
 Desert Association of Realtors and not for distribution to others without the
          express written consent of Wheeler’s Market Intelligence.

               For more information about Wheeler’s, visit
                      www.coachella-valley.com
Population Growth
          Estimated and Forecasted Seasonal
              and Year-Round Populations
                             Coachella Valley
                 Estimated
                 Permanent        Seasonal      Peak Total
2006               411,997         142,050        554,047
% of permanent                       34%

2010               524,500         168,000        692,500
% of permanent                       32%

2020               747,500         224,000        971,500
% of permanent                       30%
The Big Picture
Global Uncertainty Is An Issue
Potential Buyer Confidence An Issue




          We’re Confused
Jobs Are a Challenge
 Exhibit 14. -Employment Distribution By Sector
              Coachella Va lley, 2005
             Oth_Sv
              8,275
               6.0%           Dist
                             6,239
     Education
       8,653                 4.5%
       6.3%                                     Retail
                                               30,722
      Amuse
                                               22.3%
      9,449
      6.9%
     Health
     9,948                                          Small Sectors
     7.2%                                             23,034
        Hotel                                         16.7%
       11,481                          Const
        8.3%                          16,498
                  Agr                 12.0%
                13,390
                 9.7%

          Source: CA Employment Development Department
Tourism: A Key Driver of the
      Desert Economy
Tourism in 2006: Reasons for Optimism
Tourism Trends – PS International Airport
                                                 vt
                          An n ualPassen ger Act i i y
              T    a  )
              ( housnds
       1600


      1275


       950


       625


        300
              1986    1990       1994    1998        0
                                                   20 2     0
                                                          20 6
Assessed Valuation
Assessed Valuation: Will the pace
          continue?
         Bl $
           o
         ( i ns)
   $65

   $52

   $39

   $26

   $13

    $0
                    1992199419961998 20 0 20 2 20 4 20 6
         198619881990                  0    0    0    0
Construction
Construction in the Desert
                   B uilding Permit Values

         Ml $
           o
         ( i ns)
 $2100

$1575

 $1050

 $525

   $0
         1991      1994        1997   20 0
                                        0         0
                                                20 3     0
                                                       20 6

                Residential             Total
                Construction            Construction
       What’s Being Built?
                    New Housing Construction
                  Single fam ily vs. Multi fam ily
       U t)
          s
       ( ni
8500

6800

5100

3400

1700

  0
                                  0    0
       1990 1992 1994 1996 1998 20 0 20 2          0
                                                 20 4     0
                                                        20 6

              M ulti family            Single family
Taxable Sales
    Taxable and Retail Sales

• Total taxable sales in 2005: $1.56 billion
  – Up 7.5%


• Retail sales in 2005: $1.33 billion
  – Up 7.2%
Retail Market Changes
               Quarterly Retail Sales - 2005
                 Four Quarter Economy

 4th Quarter                               1st Quarter
   27.6%                                     25.1%




 3rd Quarter                               2nd Quarter
   22.5%                                     24.9%
      Retail Market Changes
                     2005 Retail Market Share


Palm Springs                                    Palm Desert
   13.5%                                           27.3%

  All others                                             Indio
    6.9%                                                14.0%



     La Quinta
                                                Cathedral City
      12.5%
                                                   17.0%
               Rancho Mirage
                   8.8%

								
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