Surging: Montana Home Prices Skyrocket into Top 5 Ranking

BUTTE, MT - What's one of the biggest impacts since COVID in 2020?

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One of the biggest changes to the U.S. economy over the past 4 years has been the rise in housing prices. Though it may not surprise some that every single state has seen a rise in average home-buying costs, it comes with a hefty toll on those who wish to purchase a home in the future. In fact, most people in the younger age brackets do not possess the expectations that they'll own a home anytime soon, if ever, and this most likely an impactful variable in the declining birth rate here in the U.S.

When taking a look at home buying trends, it becomes even more obvious that, for most people, buying a home just simply isn't in the cards. Years ago, Montana was thought to be a safe haven, a more desolate (in people but not in beauty) location for people to go out and buy a home—escaping the rising home prices. But, as was recently reported by ResiClub, Montana is now in the top 5 for a 4-year change in statewide home prices.

Where is Montana on the ranking?

That's right, Montana home prices have increased a whopping 63% since March of 2020. That puts Montana in third place for the highest increases across the same period, with Maine being first at a 68% increase and Florida at second with a 67% increase. New Hampshire and North Carolina are 4th and 5th. The lowest increase is Louisiana, with a 22% rise— still very high.

With these new insights, it makes sense why housing is such a hot topic here in the Treasure State. Many feel lost, hopeless, and don't know what to do. Someone warn Louisiana that a mass exodus is coming.

Do you own a home in Montana? What does its future look like for you?