BILLINGS - The only Montana city to ever appear in The Wall Street Journal and Realtor.com’s Emerging Housing Markets Index, Billings has done it once again.
Released on Tuesday, the latest quarterly report ranks Billings as #5 in the nation. Click here to read the report.
"Our success is no flash in the pan. Billings has finished in the top 10 four times since The Wall Street Journal began this quarterly ranking in 2021," said Billings Mayor Bill Cole.
The Wall Street Journal partnered with Realtor.com to create a report that would help homebuyers by ranking which housing markets are expected to provide a strong return on investment and are a nice place to live.
In the inaugural spring 2021 report, Billings ranked #4.
Summer of 2021 brought the Magic City in at first place, a feat that garnered a brief article in the August 23, 2021 edition of Time Magazine titled "Where America Moves."
That following fall, Billings dropped to #16, followed by a bigger drop to #51 the following quarter.
But Billings made a big comeback in the spring of 2022, again placing in the top 10 at #9.
And as previously mentioned, this summer, Billings is seated in the #5 position.
"The rest of the country is waking up to what we knew all along. The things that make Billings a great community are tried and true. They stand the test of time. If you want trendy, look elsewhere," Mayor Cole said.
The report’s methodology explores two main areas of real estate markets and economic health.
"The Wall Street Journal rankings compare the 300 largest metro areas in the United States. The fact that Billings has consistently ranked so high for so long is great news," said Mayor Cole.
Breaking down the specifics, the real estate market category indicators are: real estate demand (16.6%), based on average unique viewers per property; real estate supply (16.6%), based on median days on market for real estate listings, median listing price trend (16.6%). The economic category indicators are: unemployment (6.25%); wages (6.25%); regional price parities (6.25%); the share of foreign-born residents (6.25%); small businesses (6.25%); amenities (6.25%), measured as per capita “everyday splurge” stores in an area; commute (6.25%); and property taxes (6.25%).
Mayor Cole also pointed out that Billings is the only city in the Northwest region to make the top 10 this quarter.
"Billings has arrived. The chamber of commerce and Big Sky Economic Development need help spreading the word. Tell your friends," said Mayor Cole.