Northwest Montana Updates

Your Needs Matter More Than Today’s Mortgage Rates

By Jay Crowley | Jun 17, 2023

If you’re thinking about selling your house right now, chances are it’s because something in your life has changed. And, while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place. It’s true mortgage rates have […]

A Drop in Equity Doesn’t Mean Low Equity

By Jay Crowley | Jun 15, 2023

You may see media coverage talking about a drop in homeowner equity. What’s important to understand is that equity is tied closely to home values. So, when home prices appreciate, you can expect equity to grow. And when home prices decline, equity does too. Here’s how this has played out recently. Home prices rose rapidly […]

Are Home Prices Going Up or Down? That Depends…

By Jay Crowley | Jun 12, 2023

Media coverage about what’s happening with home prices can be confusing. A large part of that is due to the type of data being used and what they’re choosing to draw attention to. For home prices, there are two different methods used to compare home prices over different time periods: year-over-year (Y-O-Y) and month-over-month (M-O-M). […]

Why Buying a Vacation Home Beats Renting One This Summer

By Jay Crowley | May 24, 2023

For many of us, visiting the same vacation spot every year is a summer tradition that’s fun, relaxing, and restful. If that sounds like you, now’s the time to think about your plans and determine if buying a vacation home this year makes more sense than renting one again. According to Forbes: “. . . if the idea of vacationing […]

What You Need To Know About Home Price News

By Jay Crowley | May 18, 2023

The spring housing market has been surprisingly active this year. Even with affordability challenges and a limited number of homes for sale, buyer demand is strong, and getting stronger. One way we know there are interested buyers right now is because showing traffic is up. Data from the latest ShowingTime Showing Index, which is a measure of buyers actively touring homes, makes […]

It May Be Time To Consider a Newly Built Home

By Jay Crowley | May 9, 2023

If you’re looking to buy a house, you may find today’s limited supply of homes available for sale challenging. When housing inventory is as low as it is right now, it can feel like a bit of an uphill battle to find the perfect home for you because there just isn’t that much to choose from. […]

How Homeowners Win When They Downsize

By Jay Crowley | May 4, 2023

Downsizing has long been a popular option when homeowners reach retirement age. But there are plenty of other life changes that could make downsizing worthwhile. Homeowners who have experienced a change in their lives or no longer feel like their house fits their needs may benefit from downsizing too. U.S. News explains: “Downsizing is somewhat common among older people and retirees who no longer have […]

Why Buying a Home Makes More Sense Than Renting Today

By Jay Crowley | May 2, 2023

Wondering if you should continue renting or if you should buy a home this year? If so, consider this. Rental affordability is still a challenge and has been for years. That’s because, historically, rents trend up over time. Data from the Census shows rents have been climbing pretty steadily since 1988. And, data from the latest rental report from Realtor.com shows rents continue to grow […]

The Three Factors Affecting Home Affordability Today

By Jay Crowley | Apr 27, 2023

There’s been a lot of focus on higher mortgage rates and how they’re creating affordability challenges for today’s homebuyers. It’s true that rates climbed dramatically since the record-low we saw during the pandemic. But home affordability is based on more than just mortgage rates – it’s determined by a combination of mortgage rates, home prices, and wages. […]

Real Estate Landscape - Northwest Montana