billings montana real estate market stats: 359 Stewart Court South, Billings MT 59105 - 05/16/12 12:56 PM
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billings montana real estate market stats: Market update at glance 1st quarter 2012 - 04/10/12 09:31 AM
 
Here we are at the end of the March, ending the first quarter. Time flies when you are having fun, the first two months behaved like I expected, pretty much a slog, then March came. It behaved like someone turned on the faucet. The market has gone from where buyers definitely had the upper hand in negotiations to a balance in the market place, where neither buyer nor sellers have more power. The first thing that happens as this change takes place, buyers resist, and continue along the same path of low offers and asking for the world, only with … (0 comments)

billings montana real estate market stats: Market update at glance july 2011 - 08/08/11 01:54 PM
Employment is the key to housing and we, in Yellowstone County, are moving against the national tide of flat employment. Several things of note to highlight. #1 the percentage we are behind 2010 in closed transaction has been narrowing , a positive, #2 inventory is slightly below 2010 a positive, #3 employment in the Billings MSA is 2300 jobs higher than June of 2010, #4 although not great news for my friends in the home building business, single family permits year to date are off 30%, this give the market in resale’s a positive by reducing supply to increase absorption. So … (0 comments)

billings montana real estate market stats: 1138 st johns - 07/10/10 09:32 AM
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billings montana real estate market stats: makert stats through June 2010 - 07/07/10 08:50 AM
here are the market numbers for the first half of 2010. plenty of positives in terms of number of sales and on the pricing front. yet Iwould temper my optimism due to the large influence of the tax credits on the market. the one stand out showing the influence is the pending sale number and it shows a year over year decline of 24% a red flag if i ever saw one to future activity.

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billings montana real estate market stats: price range performance comapring years - 07/05/10 12:22 PM
THOUGHT IT MIGHT BE USEFUL TO LOOK AT THE PERFORMANCE OF DIFFERENT PRICE RANGES BY YEAR. ON THE MODERATE PRICE POINT I THINK THE MOVEMENT FROM 18% TO 20% IN THE 200K TO 250K IS THE MOST SIGNIFICANT. MY BELIEF IS THAT AS FIRST TIME HOME BUYERS BOUGHT THE LOWER PRICE REGISTERS IT ALLOWED PEOPLE TO MOVE UP ADDITIONALLY THERE WERE A FAIR NUMBER OF FIRST TIME BUYERS IN TH LOWER REGISTER OF THAT RANGE.
 

 

 
 
 
 
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billings montana real estate market stats: market compasions by year and price - 06/26/10 10:02 AM
After thinking about the market price range comparison year over year I just did. I got to thinking about my standard of a five year comparisons. One of the reasons a five year comparisons has meaning is it captures how the market is trending. And people's behavior, where the market actually derives from, tends to continue in similar behaviors. Also in business planning it not bad to look at the global trend to ascertain where your business falls within the overall trend of the market place.  Again as I prepared the information it did have some surprises the fact that 2007 … (0 comments)

billings montana real estate market stats: fannie mae changes forclosure rules - 06/24/10 09:44 AM
fannie mae in trying to disuade people from walking away from theri homes is changing the rules fro obtaining a new home loan. the problem is thta the "effect" is in the future and the pain the owner feels is in the current tiem frame. the ruesl change will have little effect on people behaivior , yet will keep the housing market subdued in the future.
 
Fannie Mae is changing the required waiting period for a borrower to be eligible for a mortgage loan after a preforeclosure event. The waiting period commences on the completion date of the preforeclosure event, … (0 comments)

billings montana real estate market stats: additional comments on the mid june market - 06/22/10 08:42 AM
Hopefully while the tax credit sun was shining your made hay, because the analogy of this Last Sundays weather in Billings and the markets direction is appropriate. Starting out pleasant and ending up horrid.
First the good closed sales up 9% from 2009 also market absorption time decreased from the end of Mays 234 days to 205 days  a positive yet still above the 180 days that the national association says what is considered a "buyers" market additional from the mix of sales you see a positive price trend. The bad is inventory levels are rising (I believe initially from sellers … (0 comments)

billings montana real estate market stats: mid june market update - 06/21/10 08:54 AM
 three things of note in the market place pending sales down inventory is trending up(not a good thing for time of year) also due to a change in inventory mix average sale price is up , which if it holds with the first two factors mentioned would be a good thing
 

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billings montana real estate market stats: houshold assets - 06/18/10 08:47 AM
i thought i might be useful to look at the distribution of household assets from the federal reserve and see how much is in the real estate sector of most households. as you can see by the chart below even after the last couple of years and the absolute beating that real estate took it still comprised 26.5% of household assets

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billings montana real estate market stats: building permits and starts - 06/17/10 01:44 PM
Below are four graphs with the most current permit and start information. Two graphs are for single family activity only; two graphs are for all permits and starts which include multi family. As I review the information I believe the conclusion you can draw from the numbers is the new construction housing business is in a depression from which they have not even begun to achieve escape velocity. The new construction will not recover until the foreclosures are brought to market and sold and the additional factor of jobs being need to drop unemployment. Not temporary census jobs which have cooked … (0 comments)

billings montana real estate market stats: home borrowing - new application - 06/17/10 11:14 AM
i believe the graphic below shows the tax credits impact to the fullest. when you see that steep of a decline since the tax credits ended, it means only one thing. that the market was supported by the tax credit. the loan application  go back to a 1997 level, which when you think about does not say nice things about the rest of the year.
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billings montana real estate market stats: Building permits and sarts nationally for may 2010 - 06/16/10 09:55 AM
here is the infromation from the government on the building numbers fro May. you can see the expiration of the tax credit written all over it. if we were returning to "normal" times housing permits always rise this time of year.
BUILDING PERMITS
 
Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 574,000. This is 5.9 percent (±2.2%) below the revised April rate of 610,000, but is 4.4 percent (±2.6%) above the May 2009 estimate of 550,000.
Single-family authorizations in May were at a rate of 438,000; this is 9.9 percent (±2.1%) … (1 comments)

billings montana real estate market stats: looking at different indicators - 06/15/10 09:16 AM
By a factor of two, Billings produces the most gambling revenue in the state of montana. I would venture that since the populationof Billings  is not "double" of all the other major cities the factor that gets Billings to those numbers is all the inbound traffic to come and shop and spend time here.
I would guess the real nervous person in the mix would be the banker that lent money based on past revenue. Value of a financial item tends to drop in relation to the income it produces very similar to the bad loans in real estate.
 
3rd2009          … (0 comments)

billings montana real estate market stats: rent as compared to owning - 06/13/10 11:44 AM
thought it might be interesting to show what the average cost of owning a home in Yellowstone county as compared to renting the average home. this i the most current figures the home for rent number comes from analyzing over 1500 homes fro rent this year 2010 and the average sales priced home using 20% of the payment for taxes and insurance. what you can really see is the effect of the lower interest rates on ownership.

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billings montana real estate market stats: price level changes around the state - 06/13/10 10:55 AM
Below is chart from the federal finance agency showing what they consider the year of year price by quarter the information is obtained from loans originated by Fannie and Freddie. They only do the report for MSA's so fro Montana that means Billings, Missoula and Great Falls. I also ran Las Vegas, Miami and Boise, Denver comparisons so you can see why you are glad to be in Billings Montana
Percent Change in FHFA MSA-Level House Price Indexes (All Transactions Index, 2010Q1)
 
 
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billings montana real estate market stats: sales figures pricing and unemployment - 06/13/10 10:53 AM
April sales figures and pricing year over year to match against unemployment
Miami-Fort Lauderdale-Miami Beach     unemployment t 10.9%
 
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billings montana real estate market stats: housing price changes comparisions - 06/12/10 10:04 AM
below is a chart from the federal housing fiance agency which shows a comparison year over year by quarter what has happened in pricing of housing. since Montana has only three msa that is the information presented below.
quarterly house price indexes for single-family detached properties using data on conventional conforming mortgage transactions obtained from the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae)
Percent Change in FHFA MSA-Level House Price Indexes (All Transactions Index, 2010Q1)

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billings montana real estate market stats: markets response to tax credit ending - 06/11/10 09:25 AM
below is a graph showing the relationship of pending sales to active properties fro sale. what it shows is the impact on the market of the tax credit expiring.. traditionally buyers come into the market 30 to 180 days ahead of purchasing a home, so what the data shows is that we should have less buyers in the market through august. of course is just in time for the markets normal slow down in the fall. it will be interesting to see how it plays out.

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