Last week, the Missoula Organization of Realtor's (MOR) released their 2009 Missoula Housing Report, and the results are, well not so bad, especially when compared to the rest of the country.
According to a story that aired on Missoula's KPAX,
"There is no doubt that Missoula is experiencing a slowdown in the housing market as from 2006 to 2008 there has been a 40% decrease in total home sales. Meanwhile, foreclosure rates reached all time highs in 2007 and they increased in 2008, but still numbers remain too low according to experts.
But, experts say that when compared to the rest of the country, Montana has dodged the bullet so far."
And local experts have seen a spike in the market already this year. This was attributed to low interest rates, and an understanding the real estate markets are local by buyers who are giving less stock to national reports about the housing crisis.
According to a report on Housing Predictor, "The Big Blue Sky Country of Montana is an exception these days. Montana's housing markets aren't making it big in the news, and are not only holding their own in the fallout of the nation's financial mess, some are still forecast to appreciate in 2009."
And from the Missoulian, "Property Management groups say Missoula has an excellent rental market with vacancies less than 5%."
Read the Full 2009 Missoula Housing Report
A Breath of Fresh Air - A Positive Outlook for Montana's Economy
Missoula Montana Predicted to be in the Top 25 for Real Estate Markets in 2009
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