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MARKET UPDATE AT GLANCE 2012
MARKET UPDATE AT GLANCE JUNE 30TH 2012
A YEAR HALF OVER, SO THE QUESTION BECOMES,
IS THE GLASS HALF FULL OR HALF EMPTY IN YELLOWSTONE COUNTY?
FIRST LETS START BY LOOKING AT THE POSITIVES--- CLOSED SALES UP 19%-- POSITIVE, PENDING SALES UP 37%-- POSITIVE, INVENTORY DOWN 34%-- POSITIVE, PRICING UP 2% Y O Y WHEN COMPARING SIZE AND PRICE-- POSITIVE, TIME IT TAKES TO RECEIVE AN OFFER ON PROPERTIES THAT SELL DOWN BY 15%-- POSITIVE, ABSORPTION RATE OF ALL THE INVENTORY 141 DAYS (DOWN FROM 259 LAST JULY)-- POSITIVE, NUMBER OF SINGLE FAMILY PERMITS ISSUED UP 72%-- POSITIVE, NUMBER RENTALS AVAILABLE DOWN 11%-- POSITIVE, FREDDIE MAC 30 YEAR MORTGAGE RATES  3.68% (DOWN FROM 4.74%) POSITIVE
I WOULD  VENTURE THE GLASS IS MORE THAN HALF FULL AND THE RESIDENTIAL REAL ESTATE MARKET IN YELLOWSTONE COUNTY HAS HEADED IN A POSITIVE DIRECTION (TONGUE IN CHEEK). THE ADDITIONAL COMMENT I WOULD MAKE IS WHEN THE MARKET FIRST PULLS IT’S SELF IN POSITIVE DIRECTION THE GAINS ARE USUALLY OUTSIZED, WHICH ARE  SEEING IN THE FIRST HALF OF 2012. I WOULD SUGGEST THE NUMBERS WILL MODERATE A LITTLE, YET REMAIN IN THE DEFINITELY POSITIVE CAMP FOR 2012. ADDITIONALLY ONCE A MARKET HEADS IN POSITIVE DIRECTION IT ... more

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