The Boise, Idaho real estate market is a hot commodity. Like many cities around the country in the wake of coronavirus restrictions being eased, there has been a rush to buy a home in the suburbs. Here is a quick snapshot of what the Boise market looks like, plus some facts and trends from the last couple months to indicate where the market is heading. A full market dynamics report can be found on BuildIdaho.com.
In July 2020:
- 28.6% of homes sold were newly built. This was the second highest share in the country behind Raleigh, NC (source: Redfin)
- The number of listings of newly-built homes decreased by 72.8%, the largest drop in the country. This was mostly due to COVID-19 stopping new home building for a couple months, deepening the housing shortage. (Redfin)
- However, this has not stopped buyers from buying what is for sale. A hot seller’s market with low supply has led to houses for selling over listing price.
In August 2020:
- Idaho’s economy was the top performer in the nation in August. Mortgage delinquency was at just 3.71% (Forbes) and Idaho’s unemployment dropped to 4.9%, adding 2,979 jobs (Idaho Department of Labor)
Boise, Idaho real estate market snapshot:
Click the links below to see market snapshot of the rest of the cities in the Boise area.
