LIsa, I'd have to say false. It could be true of that person's home or neighborhood. It could be true of a house you sell next year. But not quite 10% in MIssoula right now.
As a general example, if you sold a home in the Missoula Urban area bought in Aug. 2007 and the home sold right now, it is down by an average of $13,400, about 6%.
Which also means buying a home becomes cheaper in Missoula this year than last year by about $13K and more in other areas.
For example, someone planning to sell thier Missoula home and relocate to a Michigan area would find that the prices have fallen in that area much farther and will see their money go further.
We didn't see the extreme rise of prices and won't have an extreme fall. There has been a gradual increase over 10 years but in Missoula right now it has been going down overall.
Missoula Urban Area - Month of August
Average home sold
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