Our mayor, John Engen, was on CNBC yesterday addressing the Moody’s report that Missoula was one of 22 metro areas at risk for a double-dip recession. One of the graphics they used in the segment indicated that the median home price in Missoula was $240,000 and that it had not changed in the previous year.
That is FALSE. First, the median home price in Missoula has never been as high as $240,000. In fact the highest it has ever been was around $220,000. Second, median home prices in Missoula have changed over the past year. At the end of the second quarter of 2010, the median home price in Missoula was $197,000, a 5.7% drop from the 2009 median price of $208,900.