Current Trends in the Montana Housing Market

The Montana housing market saw a significant surge during the pandemic as buyers sought larger properties and more open spaces, often moving from states with higher home prices. Many of these out-of-state buyers were able to sell their homes for substantial sums and could afford to make all-cash offers, causing local buyers to struggle against the escalating prices. Although the market has cooled somewhat this summer, there remains confidence in steady demand, particularly in luxury sectors and areas with job growth. Agents noted that while the landscape is challenging for first-time buyers due to affordability issues, there’s potential for a more active market if interest rates decrease.