Census: Montana home values rebounding
HELENA, Mont. (AP) -- New U.S. Census data shows Montana home values have risen since the Great Recession. The data released Thursday compared median property values between 2007-2009 and 2010-2012. In Montana, values rose 5 percent from $174,900 to $183,600. University of Montana economist Patrick Barkey says he agrees that home prices are rebounding, but he had caveats about the census numbers. Barkey says the census data is based not on sales prices, but on what homeowners believe to be the value of their homes. He says the data mixes a period of growth and decline by combining the averages from 2010, when the state was still feeling the effects of the recession, and2012, when prices rose. He adds that the census does not include data from 2013, when price growth accelerated further.