It's official: My new housing video will be released in August 2008, exactly two years after the first video. Two years, can you believe it? I will be taking a close look at all that has transpired in Montana housing since 2006, and where we might be headed from here.
Watch this blog in the coming weeks for various posts of local and general housing interest.
If you're new here, please take a look at this intro page and watch my first videos.
Since 2006, this page has been giving information, facts, stats, history, and opinions about the Billings, Montana housing market. This is also the home of the Housing Boom in Billings video series.
Comments and questions are welcome! You can contact Doug at this address:
Every year or two, I produce a documentary-style video taking a look at various aspects of the Billings housing market. Click the image below to go the Videos page:
Nothing on this page should be considered investment or professional advice. All attempts are made to present accurate information, however, mistakes can occur. Please let me know if you see any inaccurate or misleading informations.
Hello,
I have been reading your articles and watching your videos off and on for a while. I am curious as to your opinions on a couple questions about the time to buy in Billings, MT. I am wanting to become a first-time home buyer but don't want to get upside down in my first home. Can you please email me at rollin63@hotmail.com. Thanks and keep up the information.
Matt
Thanks, Matt. I have sent you an e-mail.
Doug,
I look forward to your new video. My husband is itching to move back to the Billings area from Chicago and I am finally close to saying OK :-o I find it interesting when (here) year after year they are predicting the "end" to be the following spring (now they say Spring '09). I have been frustrated by the lack of available information from Montana's real estate market. We met recently with a Billings Realtor who said things are relatively good in the 3-500 price range and there were a lot of homes that recently went under contract in that price range. Do you agree? He did express worry about the future of the real estate market if/when interest rates rise. When our plans are solid for coming out there, I'd love to chat with you. Thanks for the work you are doing.
Deb,
Glad I could be of help.
As for the $300-500k price range, I'd have to see the numbers. I will look into it. I think you should ask the Realtor exactly what "relatively good" means!
Realtor.com shows 149 properties in that range. So the question is, how many are selling? If 50-75 sold last month, then we have 2-3 months supply and it's not bad. If it's more like 10-20, then it would be 7-15 months supply and looking pretty bad.
Sales seem to be trending down for the year, but again, I don't have any hard stats yet. I'll try to get them.
My gut feeling says that the high end was most overbuilt and might suffer the most. Realistically, you need a $100k-$150k household income to buy that kind of house. I do not believe that 22% of households in Billings make that kind of money, yet 22% of SFHs for sale are $300k+.
Shoot me an e-mail, billings @ topoimagery.com and we can chat more. Thanks!
Hello - I have enjoyed your webpage. We are looking to buy some lots to build either a storage unit complex or 4-plex apartment units. Nothing huge. I would like to know your thoughts for the current market and when you think it will be a buyers market. We have several years so we are not in a hurry. Thanks for your assistance.
Preston
Hi Doug,
Exactly on which date will your video come out? I have been anxiously waiting for it although I am in San Diego, CA :)
Your video and our local guy piggington.com sent the first alarms about the housing bubble and I have been following your guys ever since.
Keep up with the good work.
Thanks!
Hey Dude. It's...like...August.
Dude, today is August 25, 26, 27, 28, 29, 30, 31 ...