![]() ![]() That’s how heated this sector is due to a lack of supply in comparison to demand, particularly for classic single-family homes. According to the Housing Affordability Indices, property prices in Boise are 72% more expensive than what a middle-income family can pay. The Housing Affordability Indices by Oxford Economics look at whether a city’s average household can buy a middle-priced property. ![]() Boise is the second most expensive housing market in the United States. According to a recent analysis published by the Real Estate Initiative at Florida Atlantic University, Boise is the country’s most overvalued location, with properties selling for 80.64% more, according to historical pricing data.Ĭustomers working from home displaced from other markets by the pandemic, seem to be flocking to Boise-Idaho, pushing up property values. As supply decreased, demand for the Boise property market surpassed that mark, aided by record-low lending rates. With unexpected monthly price rises that startle purchasers, the industry has become used to one constant: there’s a great need for more houses than there are available Idaho housing units. The slowdown is already affecting certain Western mountain cities, but it is also expected to affect Austin, Texas, Tampa, and Phoenix, Florida, among other areas. Homes continue to sell at relatively heightened prices, but the rise in listed pricing may have dampened several numerous bids and competitiveness seen previously this year.Īccording to research published by, Canyon and Ada Counties are kicking off the spring selling season in high gear, with home values skyrocketing to unimaginable highs in the face of rising interest rates and fierce competition. The present home’s average sales price has been very stable, and so has purchaser demand. ![]() As a result, customers must pay more than the listing price. The Boise real estate market is booming thanks to low lending rates and a lack of supply in comparison to demand. ![]()
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