new contruction: New Construction Nationally
- 12/04/13 06:23 AM
When our friends in Washington D.C. shutdown, it meant that some data was not collected. Primarily it effected starts not permit and sales, well that is not quite true, the data below is for October. Sales were not released until December which is a month later than it would normally be and both September and October were released at the same time. The question that comes to my mind is if you were use to making $100,000 per year for the last 50 years and had weathered the recession and now were making $68,000 a year would say you had … (1 comments)
new contruction: County employment Montana
- 11/24/13 01:42 AM
Since our friends in Washington D.C. decided to shut down for a while. Employment numbers have not been published for a couple months for Montana. Always good to see what is happening with employment since more people working means, in all likely hood, more homes will be sold. Although not a direct correlation employment is a good predictor, since it is impossible now to qualify for a loan without income.
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new contruction: price ranges, sales, credit issues?
- 12/06/12 12:22 AM
Looking at trends in pricing over the past few years it got me to wondering about why with a 16% drop in interest rates from 2011 and a 47.1% drop from 2007, what was the makeup of the factors causing a 3% rise in price from 2011 and a 3% rise from 2007 when size is factored in, or said another way based on size, prices in 2007 and 2011 were identical even though interest rate environment was radically different from 2012 and in theory that differential should produce more pronounced changes in price movement. So that leads to the question … (2 comments)
new contruction: How clear can you forcast -- Yellowstone County-- your city or Area
- 12/02/12 02:43 AM
Thoughts to ponder for Real estate in Yellowstone County 2011 to 2012 Residential sales, number of units up 20% Inventory, number of units, down by 21% Price, considering size, up solid 3% Interest rates are down 16% Number of employed in Yellowstone county is up 2.4% Number of three bedroom homes w/garage for rent down 12.22%
2008 to 2012 Residential sales, number of units up 1.5% Inventory, number of units, down by 34.73% Price, considering size, up solid 1.5% Interest rates are down 44.9% Number of employed in Yellowstone county is down .09% Number of three bedroom homes w/garage for … (1 comments)
new contruction: national new home constuction
- 10/24/12 09:18 AM
Always in the year of first upward movement from a decline you see what appears to outsized gains in a percentages rise, and that is what you see in permits, in sales, and the total of single family combined with multifamily permits, yet to give a little perspective, on a national basis it is estimated that we destroy about 200,000 housing units a year, so the net effect is an increase of 694,000 housing units added to supply. When you think about the drop still between 70 to 60% from the peak and 35 to 43% from the fifty year … (0 comments)
new contruction: new home sales 1st 6 months
- 07/26/12 10:19 PM
Here is a perspective graph comparing the 1st 6 months new home sales throughout the kept history. Recovery !!!!!!!!!!!!! You betcha ya, not quite back to worst period ever before the in the 1st 6 months of the year 1982, and that is seven years from the last peak
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new contruction: Market update at glance May 2012
- 06/14/12 11:08 PM
End of May, another month through 2012. The market is moving substantially faster than what I expected, I truly believed that it would take till late summer to have the real positive improvement in numbers and then nothing like we have seen to date. All the numbers are stand outs, so I will comment first on price movement. When you look at the both the average and median selling price it appears the market is really making a movement and it has, yet not quite as big as it appears on the surface the “REAL APPRECIATION” YEAR OVER YEAR BASED BOTH … (0 comments)
new contruction: does lending affect home sales?
- 12/02/11 02:23 AM
THOUGHT IT MIGHT BE NOTE WORTHY TO LOOK AT HOME SALES, EMPLOYMENT, INTEREST RATE AND POPULATION GROWTH TO SEE IF LENDING REQUIREMENTS ARE HAVING MORE OF AN EFFECT ON THE MARKET THAN THE OTHER THREE VARIABLES THAT AFFECT HOME SALES. THE TREND BEGINS IN 2007.
TO START OFF WITH A LOOK AT PRICING OVER THE LAST FIVE YEARS. SLIGHT PRICING DIFFERENTIAL BETWEEN WHAT MOST WOULD CALL THE CITY OF BILLINGS COMPARED TO THE COUNTY. IN THE COUNTY ARE HOMES THAT HAVE MORE LAND ASSOCIATED WITH THEM SO OVERALL PRICING IS A LITTLE HIGHER.
THEN USING THE ABOVE INFORMATION THE … (0 comments)
new contruction: NEW CONSTRUCTION NATIONALLY
- 09/20/11 04:31 AM
ONE THING TO REMEMBER ABOUT YELLOWSTONE COUNTY, ALTHOUGH MY OUTLOOK IS POSITIVE, WE ARE NEITHER AN ISLAND NOR A WALLED CITY. WHAT THAT BRING US IS THE PSYCHOLOGY OF THE NATIONAL INFLUENCES, ESPECIALLY WITH THE NET IMMIGRATION OF PERSONS FROM AROUND THE COUNTY (GIVING US POPULATION GROWTH) AND THE BAGGAGE THEY BRING FROM THE REAL ESTATE MARKET THEY HAVE LEFT. UNFORTUNATELY FOR MY FRIENDS IN THE NEW CONSTRUCTION BUSINESS AROUND THE COUNTRY TWO MAJOR INFLUENCES THEY HAVE NO CONTROL ABOUT WILL CONTINUE TO WEIGH HEAVILY ON THEIR BUSINESS FOR THE NEXT SEVERAL YEARS . THE FIRST IS THE FORECLOSURE MARKET WHICH … (0 comments)
new contruction: CENSUS VACANCY HOUSING
- 03/20/11 07:02 AM
Census bureau data on vacancy of housing units, meaningful or not meaningful. My take is if you look at 2000 census bureau data that will give you a good base line for comparisons how Montana should look in "normal" times. Montana had pulled out of dull drums of the late 80's early 90's at that time yet not experienced the boom of the mid 2000's, then look at the 2010 figures. In the past 20 years Montana increased the housing stock by 33% while increasing the population by just 23.8%. that "extra" boost in housing stock comes all the "out of … (0 comments)
new contruction: makert stats through febuary 2011
- 03/04/11 11:47 AM
THE FIRST TWO MONTHS OF THE NEW YEAR ARE GONE. TIME TO GIVE OUR LOCAL MARKET JUST A TAD MORE THOUGHT. GONE ARE THE TAX CREDITS FOR EVERYONE, GONE IS THE 4% 30 YEAR MORTGAGE OF LAST SUMMER. MY COMMENT ON MORTGAGE RATES 4.75% TO 5.25% FOR A 30 YEAR MORTGAGE, MAKE IT INCOMPREHENSIBLE THAT ANYONE WOULD HESITATE TO BUY BECAUSE OF RATE, YET THAT CONVERSATION HAS TAKEN PLACE MANY TIMES. SO NOW THE QUESTION BECOMES STRENGTH OR WEAKNESS, WHICH TYPE OF MARKET DO WE HAVE. DEPENDS ON WHICH QUESTIONS YOU ASK YOURSELF. ON THE FACE OF INVENTORY BEING DOWN YOU MIGHT … (0 comments)
new contruction: montana permits and starts
- 03/01/11 03:42 AM
Released yesterday from the federal reserve data on the strength / weakness of home construction in Montana. The peaks correspond generally to summer the valleys correspond generally to winter the trend is lower peaks and lower valleys . does not portend a strengthen construction market in homes. permits
starts
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new contruction: National single family and new constuction market
- 02/16/11 08:53 AM
Cnn headline Home construction rises in January 8:40am: Building permits fall 10.4%, while new home construction rises 14.6% in January And now for the rest of the story...........................
First single family permits and starts Broken record!!!!!!!!!! There is no upward trend the construction line moved somewhat during the tax give away, yet never even came close to moving towards a recovery. Unfortunately new home construction will continue to flat line until the existing home sale market starts its recovery which is total dependent on when the economy begins to create jobs and the distressed sale properties are gone soooooooooo … (0 comments)
new contruction: Real Estate Quote
- 12/31/10 01:55 AM
The following is the most appropriate quote in relation to ownership of real estate I have seen. The wealth creation of owning real estate does not occur in a 12 month period If you are planning for one year, grow rice. If you're planning for 20 years, grow trees. If you're planning for centuries, grow men." - Chinese proverb
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new contruction: housing and numbers
- 12/23/10 02:53 AM
Census bureau information is starting to be released and with some simple math you can get a feel for the length of time it is going to take to resolve the housing oversupply/foreclosure problem. From census in 2000 to the 2010 census 1st the population in the united states increased by approximately by 27 million people 2nd that increase means that households increase by approximately 9.3 million 3rd number of housing units increased by approximately 14.5 million Soooooooo simple math says as now 2010 we have an oversupply of about 5 million housing units (new housing units 14.5 minus new households … (0 comments)
new contruction: home price in Billings vs. the stock market
- 12/20/10 01:35 PM
Since it is the end of the year and the "stock" gurus are touting the "huge" run up in stock prices thought you might like to see the comparison in Billings the past five years vs. the stock indexes First the dow
Second the S&P 500
Third the NASDQ
Fourth but not least home prices in Billings Both the Median and Average sales prices show a 9.3% increase since 2006. Now just like stocks you can find houses that have done worse and house that have done better. Yet with a house you have had a place to … (0 comments)
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