January Market Stats

January 2021 
January started off strong for the housing market, with healthy buyer demand and strong market fundamentals. A robust increase in housing starts in - 68.4% December points to an active year for new construction, but higher material costs, especially lumber, and a limited supply of buildable lots will temper the number of new units.

Closed Sales decreased 23.8 percent for Single Family homes but increased 36.2 percent for Condo/Townhouse homes. Pending Sales decreased 10.0 percent for Single Family homes and 5.9 percent for Condo/Townhouse homes. Inventory decreased 66.8 percent for Single Family homes and 71.9 percent for Condo/Townhouse homes.

The Median Sales Price increased 24.4 percent to $560,000 for Single Family homes and 9.0…

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Is The Current Real Estate Market In A Bubble?

What drives the risk of a house price correction?

According to JP Morgan, the housing bust and subsequent recession were deepest in the areas where mortgage borrowing expanded the most in the pre-crisis years, driving unsustainable increases in prices. During the 2006-2011 housing bust, price declines were closely intertwined with growth in mortgage debt during the boom. The growth in mortgage debt from 2003 to 2006 explains about half of the variation across counties in the decline in real prices from 2006 to 2011.

Another notable feature of the mid-2000s housing market is the presence of high prices even in places where the supply of housing could – and did – expand rapidly. Indeed, in the mid-2000s, prices rose well above cost in a number of markets…

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More Direct Flights to Montana

Montana became quite the destination during 2020 and the CoVid pandemic...the gateway to Yellowstone National Park and skiing, hiking, fishing, what's not to love? That certainly beats living in 4 walls in a highrise in a big city or in an area of millions of people in a few blocks' radius.

Well, you're in luck! The Bozeman Yellowstone International Airport now offers 25 Direct city flights from around the country with the recent addition of Austin, Oakland and San Diego.

The additional direct flights to Bozeman, many seasonal are the following:

1. Atlanta
2. Austin
3. Boston
4. Charlotte
5. Chicago
6. Dallas
7. Denver
8. Fort Lauderdale
9. Houston
10. LA
11. Las Vegas
12. Minneapolis
13. Nashville
14. Newark
15. New York LaGuardia
16. New York JFK
17. …

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2020 A Year in Review

We didn't know what to expect from the rest of 2020 after we learned of the Coronavirus resulting in a pandemic with quarantine regulations. Everything turned upside down and inside out. What did transpire for the positive is the importance of quality of life. Folks all over the world experienced life at home for extended periods of time and either gained a new appreciation for their environment or they decided they needed a change. They began researching places to move whether it was to the suburbs in their current area or across the country in a totally new place very different from their current home town. They looked into recreation, family life, schools, tax implications, and the ability to travel for work from that location or the reality of working…

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The Code of the West

Link: Outside Bozeman Magazine

Check out this article on the code the cowboys established years ago that are still in place today

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The Lost History of Yellowstone

“The big myth about Yellowstone is that it’s a pristine wilderness untouched by humanity,”

We all love our nation's first national park. Many have come to the park from near and far to enjoy wildlife, beautiful vistas, awe-inspiring geysers, crystal clear rivers, and colorful hot springs. This article delves into an anthropologist's years of excavation and the artifacts that he has discovered.

{Click here to read the full article in the Smithsonian.}

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2020 Bozeman Beautification Awards

This year we are recognizing projects, properties, or spaces around Bozeman that build community and serve as bright spots in challenging times. You can even nominate a neighbor or local business that you think deserves recognition for their service to the community during COVID.  

Nominate someone or a place here, Bozeman's Website

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New Flights to Bozeman... A Quarantine Destination With Luxury and Wide Open Spaces

Bozeman and the surrounding areas of Big Sky, Yellowstone and Paradise Valley have seen an influx of visitors who wanted to take advantage of our wide-open spaces, fishing, hiking, biking, camping and site-seeing in Yellowstone. Bozeman used to be a sleepy little cow town but has really hit the map in the last few months. We were experiencing a healthy growth for many years, with the market only seeing a downturn in 2008-2010 that everyone experienced.  The trend of the great western migration will continue as the uncertainty of cities continues, wildfires ravage the west coast and hurricanes beat up the southeast. 

With all of the demand to head west, we have been gifted three new direct flights. Charlotte, NC will start offering a direct flight in…

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Are We Heading Towards a Housing Bubble?

Not at all,  the two main drivers of housing remain rock solid...the below article from Hotwire will explain what the 2 main drivers are and what to watch.

Today, existing home sales blew out estimates, coming in at 5,860,000. With new home sales, pending home sales, housing starts, housing permits, and purchase applications already in v-shape recovery mode, this last metric completes the v-shaped recovery across the board for housing.

Let’s just say this is the final nail in the coffin for the housing bear troll camps that were so sure that this time, housing would finally crash. COVID didn’t get the housing market, but it did pull a fast one on those pesky bears.

Look, I get it. For the casual observers of the market, it may seem intuitive…

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What is the Great American Outdoors Act?

President Trump called on Congress to send him a bill that would fully and permanently fund the Land and Water Conservation Fund, which was established by Congress in 1964, and restore our national parks. On August 4, 2020, President Trump signed the Great American Outdoors Act into law, alongside bipartisan support from Senators Steve Daines and Jon Tester. It is being called

"The biggest land conservation legislation in a generation"

This funding is much needed to fix deferred maintenance at national parks, wildlife refuges, forests, and other federal lands, with $6.5 billion earmarked specifically to the 419 national park units. The number of visitors to the national parks system has increased by 50 percent since 1980, but the parks’ budget has…

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