Economists polled by Reuters this fall forecasted that new home sales would drop come October. They were wrong. Instead, new single-family home sales in the U.S. hit a decade high. The market’s strength may have come as a surprise, but new home sales have been increasing over the last three months, and, as Fortune magazine wrote, it seems as if the housing market is truly “regaining momentum.” We’re seeing the similar trends here in the Flathead Valley—Kalispell, Bigfork, and Whitefish MT real estate continues into the fourth quarter of 2017 with some serious strength.
Through October, there were 1,617 residential sales in the county, which is up from last year by 14.8 percent, according to local appraiser Jim Kelley. At this rate, he said, it’s likely that 2017 will set a new year-end sales high in Flathead County.
That’s not all—across the country, last month also saw an increase in homebuilding, and in the sales of previously owned homes. Even with the rise in sales, inventory also increased overall for new homes, a sign that the market is able to move homes quickly. Up by 1.4 percent across the nation, with 282,000 units on the market, inventory is at its highest level since May 2009. That’s growth in nearly all aspects of the residential market. Meanwhile, mortgage rates are continuing at the same strong rate as they were last month.
It’s an exciting time in the market, particularly for Kalispell, Bigfork, and Whitefish MT real estate . Yes, it’s also the holiday season, but that doesn’t necessarily mean it’s a bad time to buy or sell. With a PureWest agent, it doesn’t have to be hectic. Take advantage of this strong market. If you have any questions, or would like to learn about how our team can make the process go as smoothly as possible for you and your family, give us a call today. Or, you’re interested in Northwest Montana real estate, browse online. We have quality residential options for Kalispell real estate, Whitefish Montana real estate, Bigfork real estate, and Lakeside Montana real estate.
PHOTO: Whitefish MT real estate, featuring 2557 East Lakeshore Drive. For more information, contact Lisa Mack at (406) 250-8330.