Distinctly Montana Magazine

If we were to look at one common theme for better housing sales, it is the improved employment base. I want a floor that will give my home a look that normally takes decades to earn. Bozeman • Billings • Missoula www.pierceflooring.com 66 retail trade, and a strong medical and college community. Housing inventory levels are far below normal with the average days on the market at 58, in comparison to the state's high in Flathead County at 249 days. The Flathead market saw a very nice increase in the number of sales, up 20% to 1,238 in 2012. The median price was up 3% to $185,600, with the average at $265,700. For January and February only in 2013, reported sales are up to 197 units over 181 during the same time in 2012. The luxury and second home lakefront properties took a strong correction in the past four years, but reports of increased buyer activity, both U.S. and Canadian, abound in early 2013. Basic sector jobs in the lumber and manufacturing industries are being replaced with healthcare, education, and regional trade. Helena saw the highest increase in the percentage of sales, up 24% to 779. However, their median sales price had the least percentage gain up 1% to $189,450. The Missoula market also showed a strong increase of 23% in sales to 962 for 2012, with only a 2% increase in median prices to $209,450. Great Falls had the lowest median of the major markets at $155,500, up 4% from 2011. The number of sales was up 12% to 897. Solid, steady growth is being experienced throughout the major markets. If we were to look at one common theme for better housing sales, it is the improved employment base. More jobs and the stability of those jobs translate into more housing sales and new construction starts. Unemployment data via the Montana Department of Labor and Industry Research and Analysis Bureau has been published through the end of 2012. Montana is ranked #14 nationally for the lowest rate (seasonally adjusted) at 5.8%. The national average was reported at 7.6% with North Dakota #1 at 3.2% and Nevada and Rhode Island tied for last place at 10.2%. Overall, 2012 was considered a much improved year for the state of Montana with some strong income growth, evidence of energy activity throughout, and real estate sales increasing. And as always, a big nod goes to our tourism industry and the phenomenal role it plays in our state. In addition to adding more jobs and tax revenue to Montana's overall economy, it also often convinces visitors to become the next "New Montana Buyer." D I ST I NCT LY M ONTANA • SU M M E R 2013

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