The number of homes for sale, days on market and months of supply were all down in year-over-year comparisons in a majority of the country for the entirety of 2017, as was housing affordability. And although total sales volumes were mixed, prices were consistently up in most markets. Buyers may not benefit from higher prices, but sellers do, and there should be more listing activity by more confident sellers in 2018. At least that would be the most viable prediction for an economic landscape pointing toward improved conditions for sellers.
Unemployment rates have remained low throughout 2017, and wages have shown improvement, though not always to levels that match home price increases. Yet housing demand remained incredibly strong in 2017, even in the face of higher mortgage rates that are likely to increase further in 2018. Home building and selling professionals are both cautiously optimistic for the year ahead. Housing and economic indicators give reason for this optimism, with or without new federal tax legislation.
Property listings entered into The Big Sky Country Multiple Listing Service (BSC MLS) database are intended to be used for informational purposes to inform other real estate professionals, who will then inform their clients and customers. The MLS is not a vehicle for selling a listing to a consumer by positioning it for greater appeal. It is an information exchange for and between professionals. Sellers benefit by increased exposure to their property. Buyers benefit because they can obtain information about all MLS-listed properties while working with only one broker. With the MLS in place, buyers and sellers can work with the professional of their choice, confident that they have access to the largest pool of properties for sale in the marketplace.