Montana

Montana’s housing market experiences a summer cooldown

Published

2 years ago

July 29, 2024

Press Room

Montana’s housing market experiences a summer cooldown

Montana state sign

Warmer summer weather has brought cooler housing market conditions to Montana.

“The market right now just feels like it’s a bit lukewarm,” said Brian Huskey, a Billings, Montana-based ERA American Real Estate agent. “There is still moderated demand from buyers, but there are a lot of people just sitting on the sidelines right now because housing affordability and rates are playing a big role in people’s decisions.”

In Billings, the 90-day average Altos Research Market Action Index score as of July 19, 2024, was 38.77, down slightly from the 44.48 a year prior and the 51.72 recorded in July 2022. At the height of the pandemic market in June 2021, however, the Billings metro area reported a Market Action Index score of 75.42. Altos considers anything above a Market Action Index score of 30 to be a seller’s market.

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While the market has cooled since then, Billings’ drop in Market Action Index score is fairly moderate compared to other pandemic housing hotspots like Austin, Texas, whose score has dropped from a max of 100 in June 2021 to 33 as of mid-July 2024.

Huskey attributes the relative stability of Billings’ housing market to the fact that it is more of a working class community with a stable job market.

“We’ve got a lot of stable jobs at the big refineries and in the medical field, and with that comes stability for the housing market,” Huskey said. “We don’t see the same size of market swings as they do out in the more luxury second home markets like Bozeman.”

Charlotte Durham, the leader of the Bozeman-based, Sotheby’s International Realty-brokered Charlotte Durham Team, wouldn’t necessarily say that her local housing market has experienced a massive swing, but she said it’s certainly cooled down.

“This was the slowest June we’ve seen in many years in our market,” Durham, a luxury-focused agent, said. “We saw things pick up a little after the Fourth of July, but it is still slower than we’ve seen in our market since probably pre-COVID.”

Overall, the Bozeman housing market’s Market Action Index score has dropped from a 90-day average of 32.38 in mid-July 2024 from 66.88 in early June 2021. In the upper quarter of the market, which Altos defines as homes priced between $1.38 million and $2.835 million, it has dropped to 37.93 from a high of 72.75 in Dec. 2021. For properties priced around $2.835 million, the Market Action Index score has dropped to 29.74 from 44.75 in Dec. 2021

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This slowdown has been a boon for buyers who are still in the market.

“Especially in the $2 million to $5 million range, there is quite a bit of inventory now sitting on the market and it is great property,” Durham said. “So, I think we are going to have to see prices come down a little, especially in that price range.”

Compared to a year ago, the 90-day average median list price is down $300,000 to $1.2 million, according to Altos data. In the top segment of the market, which is anything above $2.835 million, list prices have fallen in recent weeks, dropping from $3.6 million in mid-April to $2.9 million in mid-July.

Bozeman-MT-Median-Price-Line-Chart-Bozeman-MT-90-day-Single-Family

Agents say the lower list prices have been a hard bill for sellers to swallow.

“The market is definitely better than it was the summer of 2022, but it is still similar to the summer of 2022,” Austin Baumgartner, who leads the Keller Williams Northwest Montana-brokered team Hidden Homes Montana, said. “Prices had been going up and up and now they are starting to come back down. We are seeing more price reductions in the market, but some folks are freaking out a little and if a property is sitting for 90 days instead of 45 days like most were, they cut the price to get ahead of other properties.”

However, Baumgartner said the uptick in days on market doesn’t really bother him.

“It is a more normalized market,” he said. “Inventory is rising a little bit, it isn’t as high as in 2019, but it’s better than it has been and it’s still slightly a seller’s market, so we are just moving to a levelized market.”

Statewide, Altos data supports Baumgartner’s assertions. The 90-day Market Action Index score was at 33.66 in mid-July, a very slight seller’s market and 90-day average for active single-family listings has risen to 3,258 listings, its highest level since mid-March 2020 at the onset of the COVID-19 pandemic.

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Montana-Inventory-Line-Chart-Montana-90-day-Single-Family

But while the uptick in inventory is good news for buyers, there is no hiding the fact that home prices in the state have risen drastically over the past five years. In the late summer of 2019, Altos data shows that the 90-day average median list price in Montana hovered around $390,000. As of mid-July 2024 it had risen to $725,000.

Montana-Median-Price-Line-Chart-Montana-90-day-Single-Family

Statewide, agents attribute this massive jump in home prices to the pandemic homebuying boom and the rapid influx of out-of-state buyers who flocked to Montana. While the influx of out-of-state buyers certainly helped increase property values in the state, agents say it has made thing challenging for locals looking to buy a house.

“It is a more than controversial issue,” Baumgartner said. “It is bad. Montanans have a lot of pride in the state and in owning property here, but most people can’t buy houses right now. Inflation is too high and with the amount most people make for in state jobs, you’d have to have like three jobs to buy a house, unless you are in a higher paying industry.”

Robyn Erlenbush, an ERA Landmark Real Estate agent in Bozeman, has also witnessed the rapid home price appreciation take a toll on her local clients.

“When Bozeman was discovered again, if you will, there was a big influx of people with cash,” Erlenbush said. “So, you all of a sudden had more competition driving prices up and then you had interest rates go up and it was a perfect storm of ingredients that made it difficult for the local buyer. I know of people who ended up buying 90 miles away from their jobs here in Bozeman because they couldn’t afford to purchase anywhere closer.”

If interest rates were to fall in the next few months, local agents say some buyers may gain an advantage. But it might be short lived.

“It is an election year and people tend to get a little skittish because they don’t know what is going to happen. But if interest rates fall just a little bit, we are going to have a gangbusters fourth quarter, no matter what happens with the election,” Baumgartner said. “There are just going to be a ton of people who want to buy and sell. The stuff above $1 million might still be a bit slower, but the stuff below, I think we’ll see some multiple offer situations. It is going to be interesting to watch.”

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Montana

Evacuation orders issued as 5,000-acre wildfire burns near Roundup, Montana

Published

4 hours ago

February 27, 2026

Press Room

Evacuation orders issued as 5,000-acre wildfire burns near Roundup, Montana

ROUNDUP, Mont. —
The Rehder Creek Fire is burning 16 miles southeast of Roundup has grown to about 5,000 acres, prompting evacuation orders for residents in the Bruner Mountain Area/Subdivision.

The fire started Feb. 26, the cause is unknown and containment was at 0%.

Evacuation orders are in effect for all residents in the Bruner Mountain Area/Subdivision. The Musselshell County Sheriff’s Office is coordinating the evacuation orders, and 911 reverse calls have been sent out to advise people in the area.

A shelter is opening at the Roundup Community Center. Residents were told to contact Musselshell County DES for further information.

Firefighter and public safety remain the top priority. The public is asked to avoid the Fattig Creek and Rehder Road area so emergency personnel can safely and effectively perform their work.

Fire resources assigned to the incident include 40 total personnel, 11 engines, one Type 2 helicopter, three tenders and two dozers.

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Montana

February 26 recap: Missoula and Western Montana news you may have missed today

Published

16 hours ago

February 27, 2026

Press Room

February 26 recap: Missoula and Western Montana news you may have missed today

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Montana

Escobar, Jayapal, Members of Congress Call on Camp East Montana to be Shut Down – Congresswoman Pramila Jayapal

Published

1 day ago

February 26, 2026

Press Room

Escobar, Jayapal, Members of Congress Call on Camp East Montana to be Shut Down – Congresswoman Pramila Jayapal

(Washington, D.C.) – Today, Congresswoman Veronica Escobar (TX-16) – joined by Representative Pramila Jayapal, the Ranking Member of the Immigration Integrity, Security, and Enforcement Subcommittee, and 22 other Members of Congress – sent a letter to Department of Homeland Security (DHS) Secretary Kristi Noem and Immigration and Customs Enforcement (ICE) Acting Director Todd Lyons calling for the immediate closure of Camp East Montana in El Paso. They cite urgent humanitarian concerns following multiple deaths in custody, documented unsafe conditions, and serious deficiencies in medical care.

This marks the fourth letter Congresswoman Escobar has sent to DHS and ICE leadership. The previous three letters have gone unanswered.

The letter can be found in its entirety below and here.

“Secretary Noem and Acting Director Lyons:

We are urgently calling on the Department of Homeland Security (DHS or the Department) and U.S. Immigration and Customs Enforcement (ICE) to shut down Camp East Montana in El Paso, Texas.

Camp East Montana has been operational for six months, and at least three people have died at the site since December 2025: Francisco Gaspar-Andres, Geraldo Lunas Campos, and Victor Manuel Diaz. The El Paso County Medical Examiner has officially ruled Lunas Campos’ death a homicide, citing “asphyxia due to neck and torso compression.”

Camp East Montana was constructed in a matter of weeks and opened before construction was complete and it does not have enough federal staff on-site to provide adequate oversight. Over the last several months, Congresswoman Veronica Escobar, in whose district this facility is located, has sent multiple letters to DHS and ICE regarding concerns about the conditions at Camp East Montana, and has received no responses.

According to detainees, there have been constant and consistent problems at the facility since it opened, beginning with the facility’s poor construction and poor ambient temperature control. Upon opening, the drinking water at Camp East Montana tasted foul and made some detainees sick. Detainees continue to be served inadequate meals, including food that is rotten or frozen; last fall, the facility was also consistently failing to make dietary accommodations for detainees. Detainees have shared that they have sporadic access to outside spaces and recreational areas, and that their dormitory pods are cleaned only once every eight days, despite pods housing up to 72 people at a time. Laundry services are not consistent, and people are washing their clothes in the facility showers. Additionally, the facility experiences flooding and sewage backups when it rains, leading to stagnant water.

One of the biggest concerns with the Camp East Montana facility is the inadequate medical care being provided to detainees. Our offices have heard that only the most ill detainees are referred to the medical unit and that there are inconsistencies as to how soon after arriving detainees are able to undergo initial medical screenings. Detainees with chronic health issues who rely on regimented medications for their health have had difficulty accessing necessary medications, including blood pressure medication and insulin.

At least one of the deaths that occurred in ICE custody, the death of Francisco Gaspar-Andres, appears to partially be the result of poor medical care by staff at the facility. According to ICE’s own account, Gaspar-Andres sought medical attention from facility staff for increasingly serious symptoms, but was only transferred to an area hospital once his condition had severely deteriorated.

In addition to our concerns about poor medical care, we are also aware that detainees have experienced irregular access to their legal counsel, including instances of detainees having only two minutes allotted per phone call every 8 days, which is contrary to ICE’s Detention Standards on access to counsel, and that the belatedly created law library lacks adequate resources for the amount of people currently held at the facility. In January 2026, ICE announced the on-site death of Geraldo Lunas Campos “after experiencing medical distress.” ICE opened an investigation into the death, but did not provide a cause of death. However, The Washington Post later reported that another man detained at Camp East Montana had witnessed guards choking Lunas Campos when he refused to enter a segregated housing unit. Weeks later, the El Paso County Medical Examiner ruled that Lunas Campos had experienced “asphyxia due to neck and torso compression” and ruled his death a homicide.

Lunas Campos is the first detainee to die at Camp East Montana as a result of a use-of-force incident, but we are strongly concerned that he will not be the last if ICE is allowed to continue operating Camp East Montana.

ICE was given $45 billion in taxpayer dollars in the reconciliation bill, $1.2 billion of which were awarded to Acquisition Logistics, LLC, a company with no previous experience managing immigration detention facilities, to build and oversee Camp East Montana. However, in the wake of three deaths in custody so far, continued concerns about conditions at the facility, and ICE’s apparent disinterest in responding to oversight letters from Congress, we do not believe Camp East Montana is being run professionally or responsibly.

Camp East Montana must be shut down. For the safety of everyone at the facility, for an end to abuses to detainees, and for fiscal responsibility to the American people, the site cannot continue to operate. We are calling on DHS and ICE to move to immediately close operations at Camp East Montana.

We look forward to hearing from the Department promptly on this matter.

The other co-signers include Representatives Yassamin Ansari, Nanette Barragán, Yvette Clarke, Lloyd Doggett, Maxwell Frost, Jesús “Chuy” García, Sylvia Garcia, Daniel Goldman, Jimmy Gomez, Henry Johnson, Stephen Lynch, Seth Moulton, Eleanor Holmes Norton, Delia Ramirez, Andrea Salinas, Janice Schakowsky, Darren Soto, Rashida Tlaib, Paul Tonko, Lauren Underwood, Gabe Vasquez, and Nydia Velázquez.

Issues: Immigration

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