MARCH 31st 2016 “FIGURES NEVER LIE, YET LIARS FIGURE. WHERE’S THE MARKET 2016” March’s market update starts with “SO WHAT’S THE REAL DIRECTION OF THE MARKET”. One thing I have learned about watching the market and helping clients and customers make good decisions about real estate buying and selling: first and foremost put together the most accurate and representative information I can find. Having do this for 30 plus years I know if I want no matter how the market is performing I can slant the information either in a positive or negative light. As an example one measurement of the … (0 comments)
home for sale: Market update at glance September 2015
- 10/20/15 01:26 AM
Market update at glance September 30th 2015 “History and Fall, a couple favorites of mine” September’s market update starts with discussion Historical perspective. Those that have read these report for a while know that the high point in activity for residential sales was 2006, in that year there was 2043 “home sales” in Yellowstone county, there was 551 single family living units (single family plus duplex) created by permits taken out in the city of Billings. Average sales price was $191,850; 30 year fixed rate was 6.41%, making the PITI payment $1,531 dollars per month. Fast forward to this year 2015 residential sales … (1 comments)
June 30th 2015 “Perception Working Reality” When I moved to Montana 43 years ago, one of the things I found fascinating was perception of temperature, you go through a week of -10 to -20 below zero, then it “warms” to 20 above and the perception changes, that it is warm, you see people not wearing coats and behavior changes. This month’s update starts with discussion of a perception. This year market the velocity has been quick. One of my thumb nails of the market strength, is the percentage of pending sales to active listings, that ratio hit 84% in … (0 comments)
“Oh what difference weather and interest rate makes, within the market place”
I think I will start March’s market update with an analogy to the college basketball events that occur every year and that is “March Madness” only we do not end up with a final four. I do think “March Madness” best describes the activity since weather warmed and interest rates dropped in 2015 Market. At the end of March 2015, closed sales up +5%, pending sales up +33 %, inventory down -11%, and interest rates down-13% from the year earlier.
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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