The housing market is continuing to make a comeback across much of the United States, with some of the best news coming out of the great state of Montana. In fact, according to the Freddie Mac Multi-Indicator Market Index, otherwise known as the MiMi, Montana is ranked fourth in the nation, according to a recent report from RISMedia. If you aren’t familiar with this ranking system and what it means for Montana, the following is a brief introduction.
The MiMi takes advantage of the latest real estate data to calculate how stable the housing market is in every state. Not only does it look at each state on an individual basis, but it also examines some of the top metro areas, as well as the nation as a whole. This index is updated on a monthly basis, ensuring home buyers and sellers are able to stay up to date on the latest trends.
According to one of the most recent reports, the MiMi currently has a value of 82.7 when looking at the entire country. This means the housing market is within the outer range of what is considered to be stable. This report continues to show improvements versus previous months, and is actually 7.65 percent stronger than it was at the same time last year.
Montana specifically has a value of 95.6, which puts it just behind the District of Columbia, North Dakota and Hawaii as the most stable areas of the country in regards to the housing market. For anyone interested in buying or selling a home in the state, this is undoubtedly great news.
We’re thrilled that the housing market continues to show improvements in just about every state in the country, but we’re particularly happy that the market is so strong in Montana. Don’t miss out on an opportunity to get involved in the Montana real estate market while it’s so strong. Contact Senecal Real Estate at 406-439-5414 or 406-439-0303 to get in touch and start your search today.