Montana Public Radio

Can Do: How COVID-19 Is Impacting Montana's Real Estate Markets

Oct 12, 2020

The COVID-19 pandemic and associated economic recession are casting differently-sized shadows across the United States. In Montana, unemployment has been high but never above the national average. Until early October 2020, the COVID infection rate remained comparatively low. 

One surprising effect has been the growing migration to the state, in particular to Missoula and Bozeman, from other parts of the U.S.

Both cities have seen growth in the demand for residential properties, with the latest monthly price increase averaging over 20 percent. And while some commercial projects have been cancelled or put on hold, other multimillion-dollar developments are moving forward.

Joining us to discuss these issues are:

Andy Holloran, owner and founder of HomeBase Partners. Since 2013, HomeBase Partners has developed ten hospitality, residential, mixed-use and land projects in Montana and two in Missouri. This includes a current $23 million hotel development in downtown Missoula slated to open in spring 2021.

Diane Beck, president of the Montana Association of REALTORS. Diane is a native Montanan with 30 years of experience in the Missoula real estate market. Diane also manages her own radio show and podcast, Missoula Real Estate Today.

Why are western and southwest Montana’s real estate economies so strong? Is that true in other parts of the state? Is the boom benefiting Montanans, or people from out-of-state? Listen and learn to find out more on today’s episode of Can Do.

This is Can Do, a podcast that explores the business lessons essential for success in these volatile times. 

Can Do shares the insights of industry experts along with the experiences and advice of local businessmen and businesswomen. Whether you’re a business owner, an entrepreneur, or your career is affected by the current economic climate, these lessons will give you the guidance you need to make informed decisions about your future. I’m your host, Arnie Sherman.

Support for this episode of Can Do is provided by the Dennis and Phyllis Washington Foundation, dedicated to investing in people to improve the quality of their lives.

Additional support comes from the Greater Montana Foundation, encouraging communication on issues, trends and values of importance to Montanans.

And Parsons Behle and Latimer, a regional law firm with national expertise, representing the interests of Montana entrepreneurs and businesses. More information at parsonsbehle.com.