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Condominium Craze in Missoula Fizzles

By Beacon Staff

MISSOULA – Officials say there’s an 18 month inventory of condos in Missoula rather than a healthy six months’ worth.

The Missoula Organization of Realtors says there are 221 condos on the market, which doesn’t include units owners couldn’t sell and turned back into rentals.

Organization spokeswoman Ruth Link says condos are a big part of the affordable housing market in the area.

Industry professionals say banks have backed away from making loans to condominium builders and buyers for a variety of reasons, including previous bad loans and a sour economy.