Wells Fargo – 10/3/14 Housing Report

Wells Fargo – 10/3/14 Housing Report

Nationally – Housing Still Soft…..

October 03, 2014  – Economics Group   Weekly Economic & Financial Commentary

“The housing market is the one area of the economy that continues to struggle and shows few signs of a strong recovery. Pending home sales fell 1.0 percent in August, bringing them 4.1 percent lower than a year ago. Relatively weak demand has held back a stronger recovery in new and existing home sales, which led to a 0.5 percent decline in the S&P/Case-Shiller U.S. Composite 20 City Index, the third straight month of declines. Construction spending also fell in August, and although the largest losses were felt in the nonresidential category, residential construction remains relatively subdued on a year ago bassis.”

Locally in Bonner County,  we still see growing strength in many segments and we’ll positioned properties continue to sell.

Chris Chambers/Mobile

Sandpoint has been home to three generations of my family. The last two generations have been products of the local schools and state universities. So after finishing graduate school, it was only natural for me to return home to Sandpoint to raise a family. As a family, we are immersed in the community through involvement in numerous civic projects, clubs and schools. Kathy, my wife, is actively involved in the area schools and has served as a Trustee on the Lake Pend Oreille School Board. We work every day, as many people here do, to help keep the fabric of our wonderful community strong and Idaho a great state.