Market update at a Glance Through Marhc 31st 2013
By Howard Sumner, Your Real Estate Source, Your Results Solution!!
(Howard Sumner Consulting)
All roads lead to positive trends in the Single family real estate market. Yellowstone County has now has had year over year increase in number of sales since February 2012, 13 months in a row. Every category of measurement shows improvement. So what drives the positive trends, employment growth, population growth, and the Federal Reserve’s unwavering commitment to push and keep mortgage rates low. A quick comparison on the power of that policy, at current interest rates (3.57%) the approximate monthly payment with taxes and insurance at the average sales price home is just $1,286 per month, use the average interest rate for the last five years (4.57%) and that payment jumps to $1,435 per month and now for the shocker use the average interest rate since 1971, 42 years of history, (8.64%...
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