It's being considered on the other side of Vail Pass too:
www.vaildaily.com
You're over on River Lakes Pkwy?
Move to Montana to get away from the crowds??? I gotta wonder does he leave Whitefish during July and August or just stays home??
Well, it's not New Jersey yet.
Yes. Near 93 and 40 (park, new Town Pump, Hospital, Whitefish Stage Rd ending, etc.)
Housing prices take forever to fall and they may never fall all that much in some markets. Sales volume is what falls because most people are too stubborn to drop their asking prices so they just end up staying put til things turn around. Which can be years.
www.barrons.com
Sort of... There was a year-over-year increase. At least in this corner of ski country there has been a sharp decrease in prices since April.Home Prices Decelerate at Fastest Pace on Record
While U.S. housing prices remain substantially above their year-ago levels, July’s report reflects "a forceful deceleration," S&P CoreLogic Case-Shiller said.
Above headline today was that housing prices decelerated at a record pace. Article goes on to explain that the annual rate of rise dropped from 18% to 15% in July, hence the deceleration.
So prices still rose 15% in July, despite high interest rates. Not sure what it'll take to knock prices down.
Kind of a complex thing to figure out as different price segments showing different levels of activity skew the numbers. Also asking price changes don’t tell you that much. Real depreciation will likely depend on job losses and individual market migration which hasn’t occurred yet.
www.cbsnews.com
‘Bidding wars are over’ — housing prices are falling fast in SLC, Provo-Orem
Those prices!Interesting article I came across from 2015... wonder what this would look like if written now, or and update as a retrospective?
10 bargain ski towns to invest in
Yes, you can get attractive buys in tourist-friendly towns with big mountains, low prices and strong rental potential
Although I'm guessing their median number of $297,000 was understated at the time of the article, the June 2022 median was $697,000. That may have fallen off slightly by now.Interesting article I came across from 2015... wonder what this would look like if written now, or an update as a retrospective?
10 bargain ski towns to invest in
Yes, you can get attractive buys in tourist-friendly towns with big mountains, low prices and strong rental potential
It's shocking how much real estate appreciated post Covid. Although it now seems set up that we could have quite a sizeable correction on the way down. I don't see how we don't unless the Fed loses its stomach on interest rate hikes.
Probably not but that doesn't mean real estate can't have a sizeable correction downward. A decrease back to pre-Covid levels would be economic Armageddon. But even a 15% decrease is economically quite painful.
