Billings MT market remains strong
Another market which has missed the effects of the so-called real estate market bubble burst is Billings, MT. The median price of a single-family home in Billings noted in the first ten months of 2006, was an increased of approximately 4% to $167,900. Sales volume is also on the increase, with 2,226 home sales closed through the first 10 months of 2006, a 4% increase over the same period last year.
Another piece of good news for Billings and its homeowners was reported by RealtyTrac. The foreclosure rate in Billings is three times lower than the national average at one foreclosure for every 2,823 households.
If the economic market remains strong, the real estate market in Billings is expected to remain healthy. Double digit price gains may not be seen, but Billings continues to yield a solid return on investment for most homeowners.