As mentioned last week, Jackson Hole real estate activity is peaking for the year and producing research and writing specifically for Teton Realty Today is taking a back seat to serving clients. With that in mind, below is the latest economic information shared with me by my friend and client Dr. Ken Mayland of ClearView Economics. As the name of his business portends, he takes a hard look at the numbers...
Market statistics
This week’s “Economic Report and Rate Sheet” from First Interstate Bank* reports another drop for 30-year fixed-rate home mortgages to a national average of 4.56 percent. “The rate marks yet another record low in Freddie Mac’s 39-year survey,” writes Patti Patterson, real estate loan officer with FIB here in Jackson Hole. “A year ago, rates for 30-year mortgages averaged 5.2...
While the overall Jackson Hole real estate market has seen resurgence in 2010 (at least compared to the anemic 2009), the lower end of the market has not participated. Earlier this week I wrote on jhpropertyguide.com about the ballooning inventory of Teton County homes listed below $300,000, which is at its highest point in several years with 34 available properties. On April 27 of this year that number...
Three sales reported in the last two days of June helped push total unit sales to 21 and sales volume for the month to $29.9 million. These included 14 residences, five building sites and two commercial transactions. The good news is that June sales in 2010 exceeded June 2009 by five sales and more than twice the volume; the not-too-good news is that last month represented a slight cooling of the market...