Missoula, MT Federal Housing Finance Agency Home Price Index (FHFA HPI)

The Missoula, MT, Federal Housing Finance Agency (FHFA) House Price Index (HPI) is a weighted, repeat-sales index that measures average price changes in repeat sales or refinancings on the same properties. The index was created in order to be a more accurate measure of house price changes than other methods, such as the Case-Shiller Index.

The HPI for Missoula is currently at 153.3, which means that home prices have increased by 53.3% since the index was created in January 1991. The HPI for Montana as a whole is currently at 155.8, meaning that Missoula's home prices are slightly below the state average. However, both the state and Missoula's HPIs have been steadily increasing since bottoming out in 2011-2012.

There are several reasons why home prices have been increasing in recent years. One reason is that there has been an increase in demand for housing due to population growth and a strong economy. Another reason is that there has been a decrease in the supply of housing due to a decrease in new construction and an increase in demolitions/renovations of existing homes. These two factors have caused home prices to increase across the country, and Missoula is no exception.

The median home value in Missoula is $269,700, which is higher than the median home value for Montana ($248,500) and the United States ($231,200). The median home value has been steadily increasing since bottoming out at $219,000 in 2011-2012. This increase can be attributed to both population growth and inflationary pressures on housing costs (e.g., land costs, building materials costs, etc.).

Missoula's housing market remains strong despite concerns about affordability. The city's population continues to grow (it was estimated at 72,662 as of July 1st 2018), which creates more demand for housing and puts upward pressure on prices. Additionally, while wages have not kept pace with inflationary pressures on housing costs nationwide over the past few years (resulting in affordability concerns), this has not been as much of an issue in Missoula thanks to strong job growth across multiple sectors (including healthcare & education). As a result of these factors - along with low interest rates - homes continue to sell quickly here and buyers remain willing to pay premiums for properties they are interested in purchasing