Reported 3 months ago
Montana's housing market is experiencing a notable slowdown this summer, with the Market Action Index in Billings dropping to 38.77, significantly lower than past highs during the pandemic. The cooling trend is attributed to affordability issues and rising interest rates, leading many buyers to remain on the sidelines. While some sectors see increased inventory and reduced prices, such as properties priced between $2 million to $5 million, sellers are adjusting to changing market conditions. Overall, despite the current stabilization, home prices in Montana have surged by over 85% since 2019, creating challenges for local buyers.
Source: YAHOO