real estate blog montana: Market update at glance January 2016
- 02/19/16 01:35 AM
LInk to full article market update january 2016 Market update at glance JANUARY 31ST 201 “READY SET GO!!, LOOKING AT 2016 ” January’s market update starts with “THANK ALL OF YOU FOR YOUR SUPPORT AND BUSINESS”. The end of JANUARY 2016 numbers, closed sales up +17%, pending sales up +1 %, inventory up +12%, and interest rates up +5% from the year earlier. The interest rate trend of year over year declines did end in December and did not continued this month (JANUARY). My prediction, all things being equally, rates should be marginally higher in 2016 than 2015. Yet the wild card is the international markets … (1 comments)
real estate blog montana: Through the looking glass - Alice in the wonderland of Housing
- 08/23/15 11:55 PM
Through the looking glass - Alice in the wonderland of Housing What follow is an analysis of Yellowstone County and the housing market to see if we can discern where it might head over the next couple of years by understanding income and household growth to see if we are in “balance” or has there been more housing produced than what is needed by growth or has pricing outpaced income. Two things that are important to know 2006 was the year in which the greatest number of residential properties were sold in the mls and 2013 was the (I think) the bottom of … (3 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)
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)
“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)
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