Taunya Fagan Bozeman Real Estate Blog: SW Montana Information & Listings

Let the Economy Experience Some Tremors...

Although the increasing tremors of recession and economic instability have been agitating the national landscape, Bozeman and southwest Montana have experienced only minor trepidation; the landscape here  remained pretty steady during the tremulous year of 2007.

So the upward growth was slower than in recent years, but upward it still moved, resisting the shakeup the national scene was experiencing. The steadiness of growth just couldn't continue, even here; the whole land is connected; the whole land eventually had to shift...

According to Paul Polzin, chief economist at the University of Montana's Bureau of Business and Economic Research, in Missoula, Montana, "Even if the U.S. goes into a recession, we think most of Montana will not be impacted," he was quoted as saying in a January 2008 article in The Missoulian, Missoula Montana's chief newspaper.  

Within the Bozeman, Montana city limits, the 2007 average sales price for a home was $337,683, which is down a bit more than $10,000 from 2006, but since 2005 the figure has increased almost $25,000. Belgrade, Montana's increase for the same period, between 2005 and 2007, was almost twice that; sales prices rose $45,702.

The growth will continue in the vibrant areas, the areas where people want to live. Regardless of the economic shifts, upward growth will continue; it may just be a slower upward pace for awhile. The economy needs to shift and restabilize.

 

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Comment balloon 5 commentsTaunya Fagan • February 14 2008 10:57PM
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