Analysts say there could be several reasons for this, one being a trend in home purchases as the weather gets warmer – but still saying it is too early to tell. This is something that happens every spring with warmer weather, psychologically people are more into the idea of spending than they are during the fall/winter months.
A slight increase in home prices in the month of April.
The strongest market belongs to the Washington Metro area, however the worst spots were Detroit (which has been dealing with a lot of economy issues outside of real estate) and Minneapolis, they had an 11% price decrease in year-to-year analysis.
Another thing to be considered is the fact that the ‘Home Buyer Tax Credit’ was causing homes prices to rise, so after the pricing has been adjusted for the credit, the resulting figures could potentially be more favorable for the results.
Housing predictor says that Bozeman should expect to see a 2% home-sales appreciation throughout 2011. In general, Montana was able to fight off the extremes of the housing market crash that pretty much devastated markets throughout the country.
As prices increase incrementally and more people desire to move to Montana the market could begin to stabilize, however, my perspective is that we are still far from getting back to pre-crash market days. In the meantime, this data gives sellers something to work with when selling their Montana real estate and for sellers who you are looking to purchase their own piece of real estate in either Big Sky or Bozeman.
Do you think the rise will continue throughout the summer? We’d love to hear your thoughts!
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