BLACK HILLS REAL ESTATE MARKET: WHAT THE DATA SHOWS
If the Black Hills real estate market is in trouble, it sure doesn't know it. The chart above shows that the monthly average number of new listings is up 50% from two months ago. And Pending Sales are up nearly 75% from last February.
Even factoring in the annual spring thaw in the market, this still shows stronger than the rest of the U.S. The Black Hills real estate market appears to be at, or better, than when the Big Bubble in national housing burst two years ago. Of course, we never had the bubble runup and therefore we had none to burst.
Even though the recession is far from over, and national economic statistics remain tough, I believe all factors taken together support my own confidence that this is a "perfect storm of opportunity" for Black Hills real estate. It's in the data.
Even factoring in the annual spring thaw in the market, this still shows stronger than the rest of the U.S. The Black Hills real estate market appears to be at, or better, than when the Big Bubble in national housing burst two years ago. Of course, we never had the bubble runup and therefore we had none to burst.
Even though the recession is far from over, and national economic statistics remain tough, I believe all factors taken together support my own confidence that this is a "perfect storm of opportunity" for Black Hills real estate. It's in the data.
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