The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.
Discover the best professional documents and content resources in AnyFlip Document Base.
Search
Published by mike, 2022-07-17 16:57:21

july_2022 (1)

july_2022 (1)

Market Update
July 2022

With our local and national real estate markets changing in 2022, you may have
questions on how this will effect you. If you have questions, please contact us.

Inflation will force construction costs higher which will put upward pressure on new
and existing home prices. Increasing inventory of homes for sale due to
high prices and interest rate increases will put downward pressure.

Look for inventory of homes for sale to rise and home appreciate to slow as
interest rates rise. We are headed toward a more balanced Buyer and Seller market.

Mike McNamara, Realtor
ABR, CRS, GRI, CNE, e-PRO
Windermere Coeur d’Alene Realty

Cell 208-660-6320
[email protected]
www.HomesCDA.com





All MLS/All Properties
Current MOI as of 7/9/2022 is 5.7

A simple analysis shows that a one-month
increase in the months’ supply results in a 3%
decline in annualized house price growth.

- Mark Fleming, Chief Economist, First American

All MLS/All Properties
Current Absorption rate as of 7/9/2020 is 17.5%

Kootenai County/Single Family
Current MOI as of 7/9/2022 are 4.6

Kootenai County/Single Family
Current Absorption rate as of 7/9/2022 is 21.8%

Kootenai County/Single Family

Home sales have essentially returned to the
levels seen in 2019 – prior to the pandemic
– after two years of gangbuster
performance.

- Lawrence Yun, Chief Economist, NAR

In our MLS 2019 vs 2022 YTD
Closed sales are only down 9%
Compared to 28% from this time last year

Kootenai County/Single Family

All MLS/ Single Family

At first glance you think this seems as if nothing is
changing, but in fact if you see the months of inventory
increasing and the fact that DOM is staying the same,
that indicates that the homes that are winning the price
war and the beauty contest are still selling within the first
30 days. If you have one after that it could be stagnant.

All MLS/Single Family
$1 Million and above
Average DOM is up 20% from last month
SP/OLP is down 4.2% from last month

Mortgage Rates & Recessions

Name Period Range Duration Mortgage Rates
(months)
1980 Jan 1980 – 6 months 16% to 11.8%
Recession July 1980 18% to 13%
1981–1982 Recession 1 year, 11% to 8.8%
July 1981 – 4 months 7.4% to 6.8%
Early 1990s Recession Nov 1982
8 months Source: Wikipedia, Mortgage Specialist
Early 2000s Recession July 1990 –
Great Mar 1991 8 months 6% to 4.9%
3.8% to 2.8%
Recession Mar 2001 – 1 year,
COVID-19 Recession Nov 2001 6 months

Dec 2007 – 2 months
June 2009

Feb 2020 –
April 2020

Over the past five recessions, mortgage rates
have fallen an average of 1.8 percentage
points from the peak seen during the
recession to the trough.
And in many cases, they continued to fall
after the fact as it takes some time to turn
things around even when the recession is
technically over.
- Fortune

Estimated Home Price Performance

December to December, as Forecast in Q2 2022

Pre-Bubble Bubble Recovery
To Date
Bust
Source: HPES

CAGR 6.29%

. . . Experts don’t believe the market is in a
bubble or a crash is in the cards, like during
the Great Recession. The nation is still
suffering from a housing shortage that has
reached crisis proportions at a time when
many millennials are reaching the age when
they start to consider homeownership.
That’s likely to keep prices high. - Realtor.com

Single-Family Housing Units Completed

Average Annual Units Completed

14 Straight Years
Below the

50-Year Average

Source: Census

U.S. Population by Generation

Generation Generation Z Millennial Generation X Baby Boomers Silent Generation
Alpha (1997-2012) Generation (1965-1980) (1946-1964) (1928-1945)
(1981-1996)
(2013-Present)

Peak Source: Census
Homebuying

Years

● Closed Sales for Cda MLS are down approx 28% from this time last
year

● Average closed sales price is up 25% from this time last year (all
mls)
○ Bonner County is up 27%

○ Benewah County is up 45%
○ NW Kootenai County is up 11%
○ NE Kootenai County is up 52%

● Original List Price to sales price is down 1.3% from this time last

year


Click to View FlipBook Version