RealtyTrac just posted their latest Montana foreclosure rate heat map for May 2012. They report that 1 in every 3,424 housing units received a foreclosure notice in May 2012. Compare that to the national average of 1 in 639 or to Georgia with 1 in 300 housing units receiving a foreclosure notice in May.
In Missoula County, 1 in 2,278 housing units received a foreclosure notice in May 2012. Compare that to Ravalli County with a rate of 1 in ever 1,632 or with the highest rate in Montana in Carter County with a rate of 1 in 810.
This morning there are a 1,306 residential listings for sale in the Missoula MLS – 96 of these listings are short sales or bank owned. That’s 7.4% of the current market – barely a blip in the big picture of things.
Here are the most recent foreclosure and short sale listings for sale from our service area in Western Montana