bozeman housing market: November 2016 Market Report - 12/05/16 01:55 PM

The 2016 residential market in Bozeman and Belgrade has been highly active from October to November, compared to last year. Between these two cities, 317 single family homes closed, up from 284 in 2015. The median sales price, has also increased from $295,000 to $323,000. The total sales volume of $123,751,980 for this time period increased from last year’s total of $112,737,420. The seller’s market continues, with low inventory and high buyer demand. 
Here are the statistics for October and November, 2016 and 2015:
Residential Sales-Units:
October to November 2015: 284
October to November 2016: 317
Residential Sales--Median Sales Price
October to November 2015: $295,000
October to November … (1 comments)

bozeman housing market: Gallatin Valley Single Family Home Sales Through February 2016 - 04/13/16 02:37 AM

This month, we will compare the first two months of single family home sales in 2015 to the first two months in 2016. Here are some statistics:
Total home sales decreased by 15.98% in January and February this year. (253 sold in Quarter 1 of 2015, 169 through February 2015. 142 sold through February 2016.) Total dollar volume decreased by 6.90% in January and February this year. ($104,984,245 in Quarter 1 of 2015, $69,989,501 through February 2015. $65,158,535 through February 2016.) Homes have spent 13.91% less time on the market this year. (115 days on the market in Quarter 1 of … (0 comments)

bozeman housing market: Job Market Spurs US Housing Market Forward - 03/25/16 02:27 AM

Job growth in 2015 certainly helped spur the housing market forward. Most experts believe 2016 will follow the pattern, with job creation leading to increased activity in the United States Housing Market. Most believe the two sectors are linked and that as people find new, higher paying jobs, home values and activity will both rise with it.
The job market created 2.6 million new jobs in 2015. Unemployment hit 5% in 2015, down from 5.8% in 2014. Urban centers and high tech hubs experienced the most growth in both job creation and housing activity. Places like San Francisco, Denver and Seatlle all … (1 comments)

bozeman housing market: Gallatin County Leading All Montana Counties in Economic Growth - 02/19/15 06:27 AM
Gallatin County has lead all Montana counties in economic growth in the past few years, according to a recent economic outlook presentation by the University of Montana. Already one of the fastest growing counties population wise, the county has seen growth in wages, tourism, manufacturing, energy and housing markets, suggesting a solid economic outlook for the county as a whole.
The county posted the highest real wage growth in the state from 2013 to 2014. Growing wages help all economic industries move in a positive direction because people have more ability to extend their checkbook into industries they may not have been … (0 comments)

bozeman housing market: Total Home Values Up in the US - 01/08/15 08:33 AM

The total value of all homes in the United States grew for a third straight year according to zillow.com. The total value of all homes in 2014 reached 27.5 trillion dollars, up 1.8 trillion from 2013.
In 2013, home values had grown up to 25.7 trillion, up 1.9 trillion from 2012. From 2012 to 2013, home values rose by 7.9 percent. From 2013 to 2014, home values rose by 6.7 percent.
Between 2007 and 2011, home values had lost nearly 6.3 trillion. The attached graph indicates the new growth in comparison with the recession (updated through 2013). With 2014’s continued … (0 comments)

bozeman housing market: Bozeman Preemptively Makes Changes to Improve Rental, Housing Availability - 12/30/14 07:48 AM

 
The City of Bozeman hopes to alleviate the very full rental and affordable housing situation in the coming year through regulation changes and increasing inventory. The Bozeman Department of Community Development has begun a review of current home building standards while starting development of new subdivisions and apartment complexes.
A rental housing survey released this year reported that the vacancy rate in Bozeman was essentially zero at the time MSU students came back for fall semester. Gallatin County saw a huge population growth rate from 2002-2012 when it grew 32 percent. In a report released this month, it was … (0 comments)

bozeman housing market: The Beige Book--The Fed's Survey of The Housing Market - 04/13/12 04:49 AM
Fed: Economy Sees Steady Growth
The Beige Book is the Feds survey of the housing market and it is showing continual signs of strengthening. The Federal Reserve described it as moving at a “modest to moderate” improvement rate. The only grey cloud is the rising gas prices. Since the economy is a complex structure of interwoven concerns and markets, high prices at the pump may translate into restriction in the flow of overall money as everyone’s confidence in the market stands on the thin ice.
But for now, the news is positive. “Residential real estate activity also improved in most … (0 comments)

bozeman housing market: How Low Will Mortgage Rates GO? - 01/04/12 03:00 AM
How Low Will Mortgage Rates GO?
This New Year may just be the one that you purchase your new home! If your resolutions are to buy, refinance, or explore your real estate options, the time is ideal. The Federal Reserve has committed to keep long-term interest rates low through next year. For nine weeks straight, the 30-year fixed-rate mortgage has been hovering or at 4%. These are record setting lows.
“Rates are very much at the bottom,” Mr. Nothaft said. But, he added, they may start inching up in the second half of the year. “If you’re planning to refinance, do … (0 comments)