Bozeman Real Estate Forecast and Home Sales History
Interested in detailed Bozeman Montana realty forecast, home sales, trends, availability? Contact Taunya Fagan, 406.579.9683, for your southwest Montana dream home or special Bozeman real estate in and around Gallatin County, Montana. Presently, there is a shortage in the number of Bozeman homes for sale.
2017 US National Home Sales and Housing Market Prognosis
Nationwide, 2017 home sales should be robust, according to the the Mortgage Bankers’ Association (MBA), National Association of REALTORS® (NAR), Freddie Mac, Fannie Mae, and others. NAR predicted 2016 US home sales were to be about 5.8 Million, and in 2017 NAR predicts housing sales will increase to about 6 million. MBA is banking on 6.5 million home sales. Freddie Mac and Fannie Mae are predicting 6.2 million. Housing starts will increase 1.5 million/year into 2040 and 160,000 homes will be constructed/year up to 2040.
Donald Trump is considering a bill to forgive student loan debt after 15 years. Many Millennials and younger adults have difficulty paying both for high student loan debt and home mortgages. On the other hand, Gen Y buyers will keep home and condominium sales strong into 2020.
In 2017, in some major markets, top forecasters indicate home sale appreciation at around 10%. Some aspects affecting the US economy are the possibility of further interest rate increases, US Government deregulation, and labor shortages.
In early 2015, Lawrence Yun, chief economist with the National Association of Realtors (NAR) stated, “Over 80% of millennial and Gen X buyers consider their home purchase a good financial investment, and the desire to own a home of their own was the top reason given by millennials for their purchase.”
PREVIOUS YEARS’ SOUTHWEST MONTANA HOUSING MARKET CONDITIONS, BOZEMAN REAL ESTATE FORECAST HISTORY
2015 Single Family Home Price History
Statewide in 2015, Billings home prices rose 4.7%, prices in Great Falls increased slightly–by 0.9%–(2016 has its residential housing prices increasing 4.6%), Missoula’s home prices grew by 3.6%, Bozeman home prices appreciated 4%.
Though inventory in late 2014 was lower than earlier in 2014, continued sales demand and fewer Bozeman, Montana homes listed for sale contributed to a relatively long run of price increases until late Summer 2014.
The inventory of Bozeman homes declined into October 2014, and at that time supply and demand levels showed signs of price stabilization for Bozeman luxury homes, residential dwellings, condos, and townhouses. Prices for Bozeman homes for sale hit another all time high in August 2014.
2013 Bozeman Realty Prices
In late 2013, the market cooled off as supply caught up with demand. Bozeman home prices fell somewhat, but overall 2013 was the best real estate sales year in southwest Montana since 2006.
2012 Bozeman Property Prices
In 2012, Bozeman home sales were booming, with the highest home prices in the Montana. The region was once again attracting investors, and those with a few extra dollars to spend on Bozeman Montana real estate from Montana’s oil business. The artsy community of Bozeman was a draw to many out-of-state people searching for second homes. Bozeman home values were forecast to inflate the most for any area of Montana, averaging a 2.9% increase by years end.
2011 Bozeman Homes and Property Prices
In 2011, Housing Predictor’s Montana rankings had four Montana cities‘ home values trending upward: Great Falls at a 2.9% increase, followed by Missoula, which was poised to rise 2.4%, Bozeman home values predicted to rise 2.0% , and indications pointed to Billings having a 1.6% increase in its residential housing prices.
2010 Bozeman MT Home Prices
Pertaining to Montana real estate prices for 2010, Housing Forecaster had Montana real estate prices dropping an average of 2.5% across Montana, with its top four cities all posting declines: Billings down 4.2%, Great Falls declining 3.6%, Missoula dropping 3.1%, and Bozeman down 2.3%.
2009 Bozeman Montana Home Prices
Based on US housing data received during 2009, Housing Predictor published a top 25 US Housing Market ranking. Five Montana cities placed in the top 25 for 2009: Bozeman 14th, Billings 18th, Livingston, MT 20th, Great Falls 22nd, and Missoula 25th.
2008 Bozeman Real Estate Trends
In 2008, Housing Predictor Montana Rankings had five Montana cities in the top 25 and two within the top 10 (you may recall that in January 2009, Billings ranked 3rd and Bozeman ranked 9th, placing both cities in the top 10 for US home values appreciation in 2009).
According to the National Association of Realtors in 2016, 89% percent of Millennials, 87% of Gen Xers, and 85% of Younger Boomers purchased their home through a real estate agent.
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Taunya Fagan, PureWest Properties, REALTOR®, ABR, CRS, GRI, Top Bozeman Real Estate Sales and Consulting Services –
Christie’s International Real Estate, 1612 W. Main Street, Bozeman, Montana 59715 – Christie’s Luxury Homes Specialist – 406.579.9683
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