howard sumner real estate bloeg montana: absorption of inventory - how long?
- 06/20/16 03:00 AM
Time it will take for Inventory to be “sold” or absorbed in the market One question I get asked is how the market is doing. There are many ways to answer the question, yet I believe one the best is looking at absorption of the inventory by the market and the relation of pending sales to the active inventory. So first let’s look inventory and the rate at current levels of sales how long the market will take to absorb or “buy the inventory”. As of this morning June 20th 2016 there are 550 “homes” on the market (the first column). I … (0 comments)
howard sumner real estate bloeg montana: 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)
“Oh what difference weather and interest rate makes, within the market place”
I think I will start Februarys market update with the quote from an ad on television I remember as I was growing up from alka sizzler,” plop, plop, fizz, fizz Oh what a relief it is”. I think that best describes the activity since weather warmed and interest rates dropped in 2015 Market. At the end of February 2015, closed sales down -7%, pending sales up 23 %, inventory down -7%, and interest rates down-15% from the year … (1 comments)
Time it will take for Inventory to be “sold” or absorbed in the market 
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