Montana’s housing market is frozen.
That’s according to the Montana Bureau of Business and Economic Research, housed at the University of Montana.
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmp?5 :E’D ?@E E96 8@@5 <:?5 @7 “uC@K6?[� 7C@> s:D?6J H:E9 AC:?46DD6D 2?5 42DE=6D]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmp 5:776C6?E H2J @7 7C2>:?8 E96 :DDF6 >2J 36 E92E E96 >2C<6E :D 4=@D6 E@ :>A@DD:3=6[ 244@C5:?8 E@ 52E2 4@==64E65 3J qqt# 2?5 AC6D6?E65 %F6D52J 5FC:?8 E96 DF>>6C DE2E6 64@?@>:4 E@FC[ H9:49 3682? :? q:==:?8D]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmp 4@>3:?2E:@? @7 724E@CD 92D 4C62E65 2 D:EF2E:@? :? H9:49 2 8C@H:?8 ?F>36C @7 A6@A=6 H2?E 9@FD:?8[ 3FE 42?’E 277@C5 :E[ 2D 9@FD:?8 AC:46D 4@?E:?F6 E@ DEC6E49 H6== 36J@?5 E96 >62?D @7 E96 2G6C286 |@?E2?2?]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmu@C J62CD[ >2J36 6G6? 564256D[ |@?E2?2’D =@H6C H286 8C@HE9 H2D @77D6E 3J C6=2E:G6=J 277@C523=6 9@FD:?8 AC:46D :? >2?J A=246D] w@H6G6C[ 6G6? 2 C:D6 :? H286D 92D?’E 366? 23=6 E@ <66A FA H:E9 E96 C:D:?8 9@FD:?8 AC:46D[ 2?5 qqt# s:C64E@C !2EC:4< q2C<6J[ D2:5 9:896C :?E6C6DE C2E6D 2?5 DEF33@C?=J 9:89 4@?DF>6C 8@@5D E92E 2C6 �96C6 E@ DE2J[� H:== 4@?E:?F6 E@ 92G6 2? 67764E @? E96 DE2E6’D =23@C A@@=]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmq2C<6J 56D4C:365 E96 C62=:EJ E92E >2?J |@?E2?2 4@>A2?:6D 2?5 C6D:56?ED 2C6 72465 H:E9i %96J 42??@E 277@C5 E@ E2<6 2 36EE6C ;@3 E92E A2JD 36EE6C 3642FD6 E9@D6 2C6 =@42E65 :? 4@>>F?:E:6D H:E9 9@FD:?8 4@DED E92E 2C6 E@@ 9:89[ @C :?E6C6DE C2E6D E92E 62E FA 2?J 82:?D] (@C<6CD 364@>6 =@4<65\:? 86@8C2A9:42==J 2?5 E9@D6 H9@ 92G6 2 9@>6 2E 2 >F49 >@C6 25G2?E286@FD :?E6C6DE C2E6 5@?’E H2?E E@ D6== 3642FD6 @7 E96 5:776C6?46]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qm�(96? 9@FD:?8 >2EE6CD :D H96? 2 H@C<6C 42??@E E2<6 2 ;@3 7@C 36EE6C A2J 2?5 36EE6C @AA@CEF?:E:6D E96? E92E :D 2 =@DD 7@C E96 64@?@>J 3642FD6 E96 64@?@>J 42??@E 86E E96 36DE H@C<6CD[� q2C<6J D2:5]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`QmtG6? 2D D@>6 >65:2? 9@>6 AC:46D 92G6 62D65 C646?E=J[ E96J C6>2:? @FE @7 C6249 @7 >2?J H@C<6CD H9@ H2?E E@ 3FJ 2 9@>6 3FE 42??@E 277@C5 :E] s2E2 DF886DED E92E E96 9@FD:?8 4CF?49 >2J 36 86?6C2E:@?2=i %96 q23J q@@>6CD C6>2:? :? E96:C 9@FD6D[ H9:49 2C6 E96:C =2C86DE 2DD6ED[ H9:=6 4FCC6?E H@C<6CD :? E96 =23@C 7@C46 92G6 c_T =6DD 6BF:EJ E92? E96 “q@@>6CD� 5:5 2E E96 D2>6 A@:?E :? E96:C 42C66C]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qm“xE’D 2 86?6C2E:@?2= H2C 2?5 E96 q@@>6CD 2C6 H:??:?8[â€� q2C<6J D2:5] â€�*6D[ H6’C6 D66:?8 2? :?4C62D6 :? H62=E9 7@C E96>[ 3FE E92E’D DE@AA:?8 A6@A=6 :? E96:C a_D 2?5 b_D 7C@> 86EE:?8 @? E96 D2>6 H62=E9 =2556C]â€k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmp446=6C2E:@? :? 9@>6 AC:46D 27E6C a_a_[ E96 r~'xs A2?56>:4[ :?4C62D65 5C2>2E:42==J] x? E96 D6G6? |@?E2?2 FC32? 2C62D D:?46 a_`c[ 9@>6 AC:46D 92G6 C:D6? @? 2G6C286 `d_T :? v2==2E:? r@F?EJ E@ fdT :? *6==@HDE@?6 r@F?EJ 2E E96 =@H6DE 6?5]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmx? @E96C H@C5D[ q2C<6J D2:5[ E96C6 :D 2 H9@=6 86?6C2E:@? @7 C6D:56?ED 2AAC@249:?8 >:5\=:76 E92E 92D?’E 368F? 9@>6\@H?6CD9:A 6G6? :7 E96J H2?E] %96 492==6?86[ 96 D2:5[ H2D ?@E :? 86?6C2E:?8 >@C6 56>2?5 7@C 9@FD:?8[ 3FE >@C6 9@FD:?8 :ED6=7]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmâ€�(6’C6 AC@323=J ?@E 3F:=5:?8 6?@F89[â€� q2C<6J D2:5] â€�(6 5@?’E ?665 >@C6 56>2?5] $FAA=J[ DFAA=J[ DFAA=J]â€k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`QmqFE[ C6D:56?ED 2?5 4@?DF>6CD 2C6 86EE:?8 DBF66K65 :? >@C6 E92? ;FDE 9@FD:?8[ q2C<6J D2:5] u@C 6I2>A=6[ :?7=2E:@? @7 8C@46C:6D 92D EC2?D=2E65 E@ 2 C:D6 :? 4@DED 3J a_T E@ adT D:?46 a_a_[ 2?5 6?6C8J AC:46D � E9:?8D E92E 2C6 4@>A6E6 7@C 5@==2CD :? 2 9@FD69@=5 3F586E � 92G6 366? 9:896C]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qmq2C<6J 2=D@ A2:?E65 2 D@36C:?8 A:4EFC6[ 56>@?DEC2E:?8 9@H C6G6?F6 4@==64E:@?[ H96? 25;FDE65 7@C :?7=2E:@?[ :D 564=:?:?8 :? |@?E2?2]k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qm“x? E6C>D @7 AFC492D:?8 A@H6C[ @FC E2I6D 2C6 8@:?8 5@H? 2?5 H6 92G6 =6DD >@?6J E@ DA6?5 @? E9:?8D H6 ?665 E@[â€� q2C<6J D2:5] â€�%96 52JD @7 C6G6?F6 8C@HE9 2C6 @G6C]â€k^DA2?mk^Am
kA 4=2DDlQA`QmkDA2? 4=2DDlQD`Qm|62?H9:=6[ :? D@>6 4@F?E:6D[ =:<6 v2==2E:?[ @?6 @7 E96 72DE6DE 8C@H:?8 :? E96 ?2E:@?[ E96 >65:2? 9@FD6 AC:46 :D ?62C:?8 `_ E:>6D E96 >65:2? 9@FD69@=5 :?4@>6[ AFEE:?8 9F86 AC6DDFC6 @? 9@FD69@=5 3F586ED 2?5 4C62E:?8 2 =23@C D9@CE286[ H96C6 6>A=@J66D 42??@E 277@C5 E@ =:G6 ?62C E96:C H@C<A=246]k^DA2?mk^Am
kA 4=2DDlQAaQmkDA2? 4=2DDlQD`Qm%92E 92D 5C:G6? >2?J A6@A=6 E@ E96 C6?E2= >2C<6E[ AFD9:?8 E96 56>2?5 9:89 2?5 C6?E2= AC:46D 9:896C] #6D:56?E:2= >@CE8286 C2E6D 2=D@ C6>2:? 9:896C E92? E96 AC6G:@FD D6G6C2= 564256D[ q2C<6J D2:5]k^DA2?mk^Am
kA 4=2DDlQAaQmkDA2? 4=2DDlQD`Qm“tG6CJE9:?8 DF886DED E9:D :D ?@E E96 E:>6 E@ 36 3FJ:?8 2 9@FD6 â€� D@CCJ[ #62=E@CD[â€� q2C<6J D2:5 E@ 2? 2F5:6?46 7F== @7 C62= 6DE2E6 AC@76DD:@?2=D :? q:==:?8D] â€�%FC?@G6C 92D 366? 49@<65 3642FD6 E9@D6 >@CE8286 C2E6D 2C6 7C@K6?]â€k^DA2?mk^Am
kA 4=2DDlQAaQmkDA2? 4=2DDlQD`QmqFE E96 AC@3=6> :D?’E :D@=2E65 E@ ;FDE v2==2E:? @C |:DD@F=2 4@F?E:6D[ H9:49 86E E96 7@4FD @7 >F49 2EE6?E:@?] q2C<6J 6IA=2:?65 E96 AC@3=6> :D?’E 6G6? 4@?7:?65 E@ E96 FC32? 2C62D] x?DE625[ :E DA2?D E96 DE2E6] u@C 6I2>A=6[ E96 >65:2? D2=6 AC:46 @7 2 D:?8=6\72>:=J 9@>6 :? v2==2E:? r@F?EJ :D Sgdf[ag_j :? |:DD@F=2 r@F?EJ :E’D Se`_[fd_] %96 =@H6DE >65:2? D:?8=6\72>:=J 9@>6 :D :? {:36CEJ r@F?EJ 2E S`cd[bd_[ 244@C5:?8 E@ qqt# DE2E:DE:4D]k^DA2?mk^Am
kA 4=2DDlQAaQmkDA2? 4=2DDlQD`Qmu@C 6I2>A=6[ 6G6? :7 2 9@>63FJ6C :? v2==2E:? r@F?EJ H6C6 E@ 4@>6 FA H:E9 ?62C=J S`__[___ 7@C 2 5@H?A2J>6?E @? 2 >65:2?\AC:465 9@FD6[ :7 E92E D2>6 3FJ6C 925 v2==2E:? r@F?EJ’D >65:2? :?4@>6[ :E H@F=5 4@?DF>6C >@C6 E92? f_T @7 E92E A6CD@?’D A2J � >@C6 E92? 5@F3=6 H92E >@DE C62= 6DE2E6 AC@76DD:@?2=D D2J :D 64@?@>:42==J D@F?5]k^DA2?mk^Am
kA 4=2DDlQAaQmkDA2? 4=2DDlQD`Qm“p A6CD@? H:E9 2 >65:2? :?4@>6 :? 2 =@E @7 E96D6 @7 4@F?E:6D 5@6D ?@E BF2=:7J 7@C 2 >@CE8286[� q2C<6J D2:5]k^DA2?mk^Am
kA 4=2DDlQAbQmkDA2? 4=2DDlQD`Qmw:DE@C:42==J[ E96 2G6C286 4@DE @7 2 9@FD6 :? E96 &]$] 92D 366? 2C@F?5 7:G6 E:>6D E96 J62C=J 9@FD69@=5 :?4@>6[ 244@C5:?8 E@ u656C2= #6D6CG6 q2?< @7 $E] {@F:D]k^DA2?mk^Am
kA 4=2DDlQAaQmkDA2? 4=2DDlQD`Qmw@H6G6C[ E96 C2E:@ @7 9@>6 AC:46 E@ >65:2? 9@FD69@=5 :?4@>6 :? a_ac[ 244@C5:?8 E@ qqt#[ :D 9:89 24C@DD E96 DE2E6[ H:E9 v2==2E:? r@F?EJ 2E `_]b E:>6D] u@FCE66? |@?E2?2 4@F?E:6D 2C6 23@G6 2 C2E:@ @7 d]f[ H6== 23@G6 H92E H@F=5 36 ?66565 E@ BF2=:7J 7@C 2 >@CE8286] p=D@[ 92=7 @7 |@?E2?2’D 4@F?E:6D WagX D9@H E92E :E E2<6D >@C6 E92? b`T @7 E96 >65:2? 9@FD69@=5 :?4@>6 E@ 277@C5 2 >@?E9=J 9@FD:?8 A2J>6?E[ 244@C5:?8 E@ qqt# DE2E:DE:4D]k^DA2?mk^Am
kA 4=2DDlQAaQmkDA2? 4=2DDlQD`Qmp=E9@F89 E96 AC@3=6> :D >@DE 24FE6 :? v2==2E:? r@F?EJ[ 2 D:>:=2C A2EE6C? 92D 6>6C865 :? ?62C=J 2== 4@F?E:6D[ H:E9 :E 86?6C2==J 86EE:?8 >@C6 AC@?@F?465 72CE96C H6DE]k^DA2?mk^Am