|News from Our Broker
Real estate markets are local. Like all markets, our market was affected by the national recession and real estate crisis that started in mid-2007, however, to a much milder degree. Our market did not participate in the United States housing bubble and therefore we are not dealing with many of the negative issues that are plaguing other markets. The Montana Association of Realtors with the Bureau of Business and Economic Research at the University of Montana finished their annual assessment of housing affordability in the major real estate markets within Montana, including Butte, and analyzed the factors affecting the cost of housing. They have issued a report “Housing Affordability and Montana’s Real Estate Markets”. A good piece of data is that Butte-Silver Bow County is the most affordable housing market in major Montana real estate markets. A silver lining in the recession are the record low interest rates which are contributing to housing affordability. Buyers want to take advantage of this favorable and unique interest rate opportunity, seize the day as they say, which has buyers into the market. Forward looking in the near-term, our market should mostly influenced by and correlate closely with local economic circumstances, particularly the job market. People are drawn to Southwest Montana because of our ecosystem and lifestyle, which is why we say "The Only Thing Better Than Visiting Southwest Montana Is Living Here".