Dichotomy of the market place ----- my best description for our market so far this year.
The positive numbers in all categories at the end of July can only be described in superlatives, closed sales up 18%, pending sales up 43%, inventory down 34%, time on market down 14%, single family permits issued by the City of Billings up 77%, number of rental available down 17%, interest rate on a 30 year fixed rate 3.55% down 21.9% from a year ago, monthly payment to purchase the average priced home in Yellowstone … (1 comments)
real estate: 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
real estate: MARKET UPDATE AT GLANCE 2012
- 07/08/12 10:54 PM
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 … (0 comments)
real estate: 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)
real estate: consumer spending recovery
- 05/27/12 08:57 AM
Thoughts to ponder Looking at the information from Gallup on consumer spending comparing before the great recession and financial collapse in the fall of 2008, the 14 day rolling average of consumer spending to 2012, consumers report that they were spending 15.9% and 21.64% less than in January and May respectively in 2012 as compared to 2008. Looking at the bottom in 2010 consumers report that they spending 5.7% and 11.76% more respectively in January and May 2012 as compared to 2010. According to the bureau of labor statistics from consumers prices have risen 4.46% and 5.53% January and May respectively … (1 comments)
real estate: National home building april numbers
- 05/26/12 05:07 AM
The April new construction numbers are in, for the national construction business, and on a year over year some positive trends no doubt, also the trends movement from the bottom are positive, but you have a nagging feeling that all is not well in the construction business. When permits, starts and sales are off between 45 to 52% from the 50 year average, the industry as a whole still has some pretty serious challenges. Since the peak year was back in 2005 and the time span is now seven years, as business picks up there will be challenges in finding … (0 comments)
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