August tends to mark the waning of housing activity ahead of the school year. Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cool down before any actual temperature change. Competition is expected to remain fierce for available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes.
The prevailing trends lasted through summer. This was expected, since there have not been any major changes in the economy that would affect housing. Factors such as wage growth, unemployment and mortgage rates have all been stable. Every locality has its unique challenges, but the whole of residential real estate is in good shape. Recent manufacturing data is showing demand for housing construction materials and supplies, which may help lift the ongoing low inventory situation in 2018.
GAR has over 1000 members from all across the Southwest Montana region. Our members have a variety of real estate specialties, including appraisal, commercial development, farm and ranch, residential, recreational land, and resort properties. We also offer affiliate membership to a variety of related industries like banking institutions, title and escrow, home inspection, photography, construction, restoration, insurance, and communications. REALTORS® represent the best of the real estate industry and abide by a Code of Ethics and Standards of Practice enforced by the National Association of REALTORS®. As one of Gallatin County’s largest business organizations, the Gallatin Association of REALTORS® is proud to serve as the voice of this organization of exceptional professionals.