Market update at glance October 30th 2015 “10 months down, 2 months to go” October’s market update starts with “oh my god where has the year gone”. The end of October 2015 numbers, closed sales up +6%, pending sales up +14 %, inventory down -6%, and interest rates down -6% from the year earlier. The interest rate trend of year over year declines will end this next month (November) would be my prediction. As of the end of the week of November 6th the rig count in North Dakota is down -118 rigs since last year, 63 working in 2015 … (1 comments)
You would think that after eight years from the peak that would be an irrelevant question at this point, unfortunately not. Since 2005 which was the peak in the building cycle interest rate has dropped -37.12% from 6.33% average in 2005 to 3.98% average for 2013. In any “normal” economy (whatever that is now) that type of shift would have home sales explode. Yet from 2005 that peak year we see … (0 comments)
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