Wednesday, April 11, 2018

Housing Update & Forecast

April Market Watch
ERA Landmark

Housing Update & Forecast

In March I attended the 2018 RPAC President's Circle Conference. Lawrence Yun, Chief Economist for the National Association of REALTORS®, was a keynote speaker and once again summarized the national real estate market by the numbers.

 

Existing home sales ended 2017 at an eleven-year high of approximately 5.5 million units sold, yet still noticeably below the peak years of 2003-2006 where the annual number fluctuated between 6.1 and 7.0 million units. Increased levels of student loan debt are one of the hurdles that has made it progressively difficult for many potential homebuyers to save a down payment to enter the market. New home sales ended up around 600,000 units and were at a ten year high in 2017, though still at about half of the volume of the peak in 2004 and 2005. However, keep in mind that construction during the peak was at unheard of levels when used as a comparison. Median home prices are at an all-time high weighing in just under $250,000, which was a 6% jump from the previous year.

 

The forecast for 2018 includes an increase in new home sales, flat existing home sales, and moderate median price growth. The other prediction that affects how home sales shake out is the interest rate on 30-year loans. 2017 ended up at 4% which was a nominal increase over the previous two years. However, it is anticipated for this number to continue to rise incrementally.

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Intermountain Opera Presents - Falstaff

Giuseppe Verdi's Falstaff

Willson Auditorium

Friday, May 11 @ 7:00pm

Sunday, May 13 @ 3:00pm

 

Sir John Falstaff is the ultimate human juxtaposition - old yet immature, hapless but manipulative, decent yet wickedly indecent. Also a man of many appetites, the lecherous Falstaff can't resist his favorite vices - food, women and wine. Suddenly finding himself broke, he hatches a plot to cure his woes - he sends identical love letters to two married women to get his hands on their wealthy husbands' purse strings. Falstaff doesn't bank on getting found out and with the help of some 'merry wives', husbands and supernatural creatures, he gets his due and finds out the joke is on him.

 

A brilliant comedy based on a character from Shakespeare's The Merry Wives of Windsor, this period piece boasts an updated twist, pops of color and designs from a modern point of view for modern tastes.
~ Courtesy of the San Diego Opera Association

Get Tickets

Featured Properties

2400 Andalusian Ave, Bozeman

$739,000 | MLS 316069

Year round creek beyond back yard, open area/privacy, great Bridger views, trail system, parks, a short distance from Chief Joseph school, trails to 100 acre park, beautiful subdivision.

 

Property Details

90 Fox Run, Livingston

$750,000 | MLS 317428

31 acres private living. Quality custom built 3 bedroom, 2.5 baths. The wall of windows and tall vaulted ceiling bring the perfect amount of natural light into the beautifully designed main level and invite you to linger in your living, dining and kitchen areas with dynamic views. Kitchen is large and features custom cabinet with pullouts and turntables. The dining area leads to glassed in Pergola. Master on the main level has 2 vanities, soaking tub surrounded by windows and shower. Lower level features 2 large bedrooms each with private patio access, full bath, large family room. Laundry on the main, attached garage and a separate shop. Landscaped with mature trees. Decks or patios off of each of the four sides of this lovely home.

 

Property Details

239 Beaver Mountain, Big Sky

$735,000 | MLS 300955

Log home on 4.27 acres in the South Gallatin Canyon near the Big Sky School Campus. Easy access to the USFS Porcupine Game Range. Three bedroom plus den, this 1978 home has 2 bedrooms and bath on main floor. Second floor master has sun room and private full bath. Stainless steel appliances, wood floors and propane thermostat controlled gas fireplace with buried 1000 gallon tank. Unfurnished. Attached log 480 sq ft garage, Lots of land for a detached garage. Great views, sun and circular driveway.

Property Details

364 Sundance Bench, Cameron

$529,000 | MLS 220679

Very unique Montana mountain getaway property. Spectacular views, best views of the Madison Valley / River, Henry Mountains, and Madison Range. Gated Subdivision with exclusive use of 31.7 acres of "Common Area" along the Madison River. Very private and remote feel. Great stands of timber. Internet access. Not year round access, but property comes with two snowmobiles and trailer. Park these at the West Fork Cabins in the winter and snowmobile in and out. Unlimited recreational opportunities. 30 Minutes from Yellowstone. Property Borders NFS. Two bedrooms and a loft that is used as a bedroom.

Property Details
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