It’s Not Cooling Down in Boise – 2019 Housing Trends
Is the housing market finally cooling down? Here in Boise, ID it sure isn’t. According to Realtor.com, the Boise market stands to once again be in the Top 10 hottest markets of the year. Predicted sales growth for 2019 is estimated to be about a 1.5% increase over 2018 and a 6.9% equity bump. Contributing to these impressive numbers is the record low housing inventory available in Ada County (Boise, Eagle, Meridian). In fact, new home sales in Ada County easily make up 25% of home sales each month – with a record of 35.5% share of new home sales in December 2018. It’s no secret that out-of-state buyers continue to be pointed to as the primary drivers of this increased demand. With cheaper home prices than our Pacific neighbors as well as a much lower cost of living, the Boise Metro is highly desirable. But it’s not just out-of-state buyers who have flocked to Boise, it’s also 83% of Ada County residents who have not moved year-over-year (since 2015). And of the 17% who did move, 60% actually moved within Ada County. These unprecedented numbers show that
Posted – January 31, 2019