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Wed July 28, 2010
Jackson housing market slowly improving
By Molly Messick
Jackson, Wy – A report on the Jackson Hole real estate market shows that things are improving but slowly. The report says the market hit bottom in January - and sales for entry level homes are still low. Report author David Viehman (VEE-man) owns Jackson Hole Real Estate Associates. He says the health of the local construction industry and the health of local housing sales are linked. And right now - both are suffering.
"Right now our construction is - it's not zero, but it's way down. We don't have a lot of remodels and we don't have any new construction and we don't have any speculative construction."
Viehman says that, in normal times, the construction industry provides jobs and income that fuel sales in Teton County.
The report shows that the number of sales is up by more than 100 percent compared to this time last year. But it's still much lower than 2007 levels.