HOUSING STRONG OR WEAK OR RELATIVE, A HARD LOOK AT HOUSING IN YELLOWSTONE COUNTY

SOMETIMES WE FORGET THE PAST TO MAKE OURSELVES FEEL BETTER ABOUT THE PRESENT

HOW MANY DIFFERENT MEASUREMENTS CAN YOU LOOK AT TO DETERMINE THE ANSWER TO THE QUESTION?

FIRST YOU MIGHT LOOK AT INTEREST RATE PLOTTED AGAINST THE NUMBER OF SALES. ONE WOULD THINK AS THE COST TO OWN BECAME CHEAPER MORE BUYERS WOULD COME INTO THE MARKET PLACE. BUT DO THEY? INTEREST RATES SINCE 2000 DOWN 54.53% SALES UP SINCE 2000 2.26% THOSE NUMBERS I BELIEVE DO NOT MATCH

 

WELL MAYBE HOME OWNERSHIP WOULD RISE IF INTEREST RATE WENT DOWN. INTEREST RATES SINCE 2000 DOWN 54.53% HOME OWNERSHIP DOWN IN 2012 2.96% ………THOSE NUMBERS I BELIEVE DO NOT MATCH

 

WELL CERTAINLY IF YOU INCREASED THE POSSIBLE NUMBER OF HOME BUYERS, SALES WOULD INCREASE

THE NUMBER OF POSSIBLE HOME BUYERS INCREASED 16.58% SINCE 2000 HOME SALES INCREASED 2.96% SINCE 2000 SO WHY THE MIS MATCH

 

SO REALLY, IF YOU INCREASED EMPLOYMENT CERTAINLY SALES OF HOMES WOULD FOLLOW

THE EMPLOYMENT IN YELLOWSTONE COUNTY UP 16.42% SALES UP ONLY 2.96%

 

 

SO THE REAL THOUGHT TO PONDER ………………………. WHAT ARE THE DRIVERS OF HOME PURCHASERS IF NOT INTEREST RATE, EMPLOYMENT OR AN INCREASE IN AVAILABLE HOME BUYERS?