THIS TIME OF YEAR I START ASKING MYSELF QUESTIONS ABOUT THE MARKET PLACE AND THE ANSWERS I ALWAYS FIND INTERESTING
NEW CONSTRUCTION IN BILLINGS AREA
WHEN LOOKING HOW WELL OR POOR WE ARE DOING THERE ARE MANY DIFFERENT WAYS TO LOOK AT THE SEGMENT.
#1 COMPARING NUMBER OF SINGLE FAMILY PERMITS ISSUES
#2 COMPARING SINGLE FAMILY PERMITS PLUS DUPLEX PERMITS MULTIPLIED BY 2 FOR LIVING UNITS
#3 COMPARING TOTAL DOLLAR VALUE OF PERMITS ISSUED
#4 COMPARING POPULATION TO TOTAL OF PERMITS ISSUED
#5 COMPARING EMPLOYMENT TOTAL OF PERMITS ISSUED
MY BELIEF YOU LOOK AT THE TOTALITY OF THE INFORMATION TO GET A TRUE PICTURE, YOU DECIDE HOW YOU THINK WE ARE DOING RECOVERED, RECOVERING, OR EXCEEDING PAST PERFORMANCE
SINGLE FAMILY PERMITS SHOULD EQUAL 2006, SINGLE FAMILY PLUS DUPLEX PERMITS MOST LIKELY DOWN 15.97% FROM 2006 (ASSUMING ENDING YEAR 407 SINGLE FAMILY AND 463 SINGLE FAMILY PLUS DUPLEX)
SINGLE FAMILY PLUS DUPLEX PERMIT VALUATION UP 14.07% FROM 84 MILLION+ TO 96 MILLION+
TOTAL PERMIT VALUATION UP 95.98% FROM $201,423,539 TO $394,761,552
POPULATION HAS GROWN 13.28% THE RATIO OF PERMITS TO POPULATION HAS INCREASED BY 40.48% SO IF THE RATIO WERE THE SAME THERE SHOULD BE 774 SINGLE + DUPLEX PERMITS INSTEAD OF PROBABLY 463
EMPLOYMENT HAS GROWN 6.1% THE RATIO OF PERMITS TO JOBS HAS INCREASE BY 32.14% SO IF THE RATIO WERE THE SAME THERE SHOULD BE 728 SINGLE + DUPLEX PERMITS INSTEAD OF PROBABLY 463 YEAR END
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