Missoula Homes for Sale Have Modest Price Bump
U.S. home prices soared 12.1 percent in April the biggest gain since February 2006. Prices in Nevada jumped 24.6 percent, the most among the states. The biggest increases were all in the West. More potential buyers have been seeking to purchase homes. But the number of homes for sale is 14 percent lower than it was a year ago.
I took a look at the figures for Montana and we were up 6.2%. The surrounding states were all up as well. Oregon leading the way at 15.5%, not far behind were Idaho and Washington at 13.2%, Wyoming was at 11.9%. The interesting thing about Wyoming along with North Dakota and South Dakota is that they all showed very modest price increases (6%-12%) but they had remained stable with no change during the housing price downturn. (These figures include all sales including distressed).
It bears pointing out that housing prices nationwide are recovering but are still well behind what they were several years ago. Some people felt those prices were over inflated due to speculation. The national average is just over 20%, we’re below that here in Montana, we’re only behind by 12.5%. (Information from CoreLogic)