DECEMBER 31ST 2015 “LOOKING BACK, end of the year 2015 report” December’s market update starts with “THANK ALL OF YOU FOR YOUR SUPPORT AND BUSINESS”. The end of DECEMBER 2015 numbers, closed sales up +5%, pending sales up +21 %, inventory up +1%, and interest rates up +3% from the year earlier. The interest rate trend of year over year declines will end this month (December) would be my prediction, which is what happened. All things being equally, rates should be marginally higher in 2016 than 2015. As of the end of the week of January 8th the rig count in North … (1 comments)
Time to look back and see where the market has traveled. I use 2006 as a base year for comparison to 2015 since 2006 is the peak year in terms of number of sales in Yellowstone County. The residential market has yet to surpass the number units sold 2006 even though Yellowstone County has more jobs, income and lower interest rates. So let’s take a look back
First here is a quick glance at comparisons
When we take a quick look at the drivers of housing, population, employment and income, they all look healthy and in the positive, with the average wage … (3 comments)
In the immortal words attributed to Yogi Berra "It's Hard to Make Predictions, Especially about the Future". I think that best describes 2015 Market. At the end of the 1st half 2014, closed sales down -6%, pending sales down -12%, inventory up 6%, and interest rates up 2% from the year earlier. At that point I would have let you bet a dollar and I would have matched with $50 about 2014 catching or surpassing 2013, you would have taken my $50. As I have said, probably should not bet against the … (0 comments)
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