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)
real estate agent billings montana: Market update for July 2015
- 08/20/15 10:51 PM
“DOG DAYS OF SUMMER” In recognition of the time of year this written report is much shorter At the end of July 2015, closed sales are up +8%, pending sales up +13 %, inventory down -11%, and interest rates down -2% from the year earlier. As of the end of the week of August 7th the rig count in North Dakota is down -111 rigs since last year, 71 working in 2015 and 182 working in 2014. Let’s look at closed transactions, Number of closed sales in Yellowstone County, 1310 through July 2015 as compared to 1212 in July 2014 showing an increase … (2 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)
Mays market update starts with discussion of a comment both locally and nationally that there is a “shortage “of inventory. Actually though when you look at activity in the market place it says something quite different. First let’s define inventory, my belief is you can look at one of two ways, one would be the “active homes for sale only” or when trying to understand the market in total, inventory includes “active pending and closed” (this represents total inventory activity). When looking at the only “active” you would say yes, inventory is down, May 2014 622 active … (0 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)
real estate agent billings montana: Market update at a glance October 31st 2014
- 11/12/14 04:12 AM
Market update at glance October 31st 2014 “Don’t bet against the Fed’s Printing Money” A comment about the title, since 2008 the Federal Reserve has accumulated approximately 1.7 trillion dollars in Mortgage back securities. This October they indicated any principal received would be reinvested into the mortgage market, so the Fed’s oversized influence on the mortgage market will stay until they decide to reduce the size of the holdings, which is approximately 17% of all mortgage back securities, the main source of mortgage money. First let’s look at closed transactions, October 2014 continued with fewer homes closed. Number of closed sales … (1 comments)
real estate agent billings montana: The Eternal Questions of Real Estate
- 11/07/14 01:44 AM
The Eternal Questions of Real Estate #1 How much is my home worth? #2 Should I refinance? #3 Is now a good time buy? #4 Will it pay me to do this _ _ _ _ _ Remodel Project? My standard answers are it depends. What follows is both factual information and guidance to try and sort through the proper answers for the questions. I have prepared some graphs to show how the market and payments have changed since 2006. I choose 2006 since it was the peak in the number of homes sold in Yellowstone County. #1 How much is … (0 comments)
real estate agent billings montana: INFLATION, INTEREST RATES AND HOUSING COST
- 10/30/14 11:04 PM
Since low inflation has been in the news lately, mainly in reference to increasing social security payments for 2014. An increase caused by inflation of 1.7% is due on the January 2015 checks. Thought it might be interesting to look at the interest rates and housing costs plotted against the consumer price index to see what has happened over the past few years. I choose to start at 2006; the reason is 2006 was the peak home sales in Yellowstone County. Since that year was peak activity it indicates at what price people were willing buy and the monthly … (0 comments)
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