News

The ‘frozen’ Montana housing market – “Every metro region in Montana is experiencing its lowest level of affordability on record.”

December 5, 2024/

If you could pick only one statistic to illustrate Montana’s lack of affordable housing, it may be this: Roughly 80% of mortgage holders in the Treasure State have rates that are 2% to 3% below the current mortgage rates.

That means that unless a property owner is forced to move, it usually doesn’t make any sense to buy a different house — just the interest rates alone would mean hundreds of dollars more a month in mortgage, even for the same amount of house.

Montana’s market is essentially frozen.

By: Darrell Ehrlick

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