Market Recap: Construction Spending Unchanged, Mortgage Apps Up, ADP Employment Numbers Positive

Mortgage rates started to trend upward after a few weeks of holding steady.  This month, US construction spending remained unchanged and private-sector jobs grew less than anticipated.  New purchase mortgage applications rebounded after last week’s declines, and refinance applications decreased slightly. US construction spending from April to May was unchanged Read More

Has the Millennial Homebuying Wave Arrived?

Home builder sentiment posted a strong score of 63 on the Wells Fargo/NAHB’s Sentiment Index for October. This was a two-point slip compared to September, but September was a five-point surge over August. The bottom line is that builders remain overwhelmingly optimistic, and they are even more optimistic about future Read More

Lenders & Borrowers Feeling Positive About Housing Market

Two recently released studies paint an optimistic picture of both buyer and lender confidence in the housing market. The first is Fannie Mae’s second quarter 2016 Mortgage Lender Sentiment Survey, which consulted with a broad selection of lenders to glean insight into what they think of the current market. “Lenders reported demand Read More

Rapid City Real Estate November Market Snapshot 2015

November Market Overview Below you will see in image of the Market Overview for the Rapid City Real Estate market, for November 2015. As you can see, the number of homes selling is out pacing the number of comes coming on the market by 8.1%. The market is currently neutral, with Read More

Rapid City Real Estate September Market Snapshot 2015

In Rapid City, the number of homes coming on the market is out pacing the number of homes selling by 10.3%, causing a rise in inventory. We continue to see a neutral market with a slight rise in appreciation to 3%. As the inventory rises, home sales may begin to Read More

Trending Housing Markets

Over the past 39 years as an agent in the Rapid City real estate market, one of the questions I have been repeatedly asked is, “How is the current market?” Most agents will address trending housing markets with terms such as: good, bad, hot, or cold. Years ago, it occurred Read More