FIRST SNOW!! What That Means For Bozeman Real Estate
All the winter preparation leads up to this moment—Bozeman’s first snow!
What does this mean to the Gallatin Valley’s real estate market?
Past trends indicate that cold weather has a way to hamper economic growth. Historical patterns do show a correlation to the amount of precipitation and the housing performance in construction starts, construction permits, existing home sales, new home sales, and pending home sales. (LEARN MORE) In Bozeman, residential home sales week by week show a progressive pattern of decreasing sales with consistent spikes in closings the last week of each month.
But there is hope. If you take a look at last years’ trends, there was a slight dip in the early weeks of November with a recovery happening until the most disruptive lag in the market—the holidays. The weeks of Christmas and New Year’s bring a significant lull to the market.
New technology brings with it the ability to keep such things as construction going through the winter months.
Conventional wisdom for homebuilders used to be if you can't get the roof on before the first snowfall, wait until spring. That's not the case anymore. Winter construction is not only possible, it can offer advantages for both owner and contractor. (SOURCE)
Additionally, Bozeman has some specific winter market resiliency. We are a tourist driven economy and that does not cease to be true when our world turns white. We are the hub to ski resorts, ice climbing and a winter wonder land full of snowy escapes.
Stay safe and stay cheery Bozemanites. While the temperature still allows, step outside and breathe deeply. This is a magical time of year.