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Lets Talk Supply - 07/31/10 02:06 AM
A Blog I read quite often is called The Calculated Risk Blog, in this story: http://www.calculatedriskblog.com/2010/07/existing-homes-double-digit-months-of.html the story I've linked to talks about expected supply of double digits in the months to come regarding re-sale homes. CRB expects supply of existing homes to get into double digits and stay there for a while. Usually when we talk supply 8 months or less is considered a "healthy" market. Based on this blog I thought I'd see how Missoula stacks up. Missoula active listed inventory: 941 Sales to date: 522 Using the CRB math for supply: 941/522 * 7 = 12.62 months so a slightly over-stocked market. That's the total (3 comments)
Looming housing shortage, and what it means for Missoula, MT - 07/26/10 02:55 PM
Two weeks back in Washington DC for the Realtor mid-year meetings I was pretty surprised to hear both Lawrence Yun and an economist with Moody's talk about an upcoming new construction housing shortage. Yun talked about on average the US needs to be building about 1.6 million new homes per year, however in the last 3 years new builds are non-existent, and that currently the US is about 2.35 million homes short of meeting that need. So what does that mean in the future? A big shortage, and in doing a simple Google search I can see it's not just the (0 comments)
Market Comparison Research - 07/26/10 02:22 PM
Lets take a look at an array of stats (For Missoula urban area only): 1/1/2010 - 7/26/2010 Sales: 504 houses 1/1/2010 - 7/26/2010 Median: $199,900 1/1/2009 - 7/26/2009 Sales: 464 houses 1/1/2009 - 7/26/2009 Median: $215,000 My analysis: Neither of these numbers are overwhelmingly surprising, the first half of last year was when the tax credits were just taking hold, interest rates were higher and the stock market collapse was still resonating for everybody. Until March of 2009 I believe the tax credit for 1st time buyers was very different ($7500 and you had to pay it back) so the market was not dominated by (0 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.