Housing Inventory JUMPS in Boise, Idaho. Driving home Prices Down.

Inventory JUMPS in Boise, Idaho. Driving home Prices Down. #housingmarket #housinginventory #boiseidaho #housingbubble

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Boise Idaho Real Estate November 2022 Update. (Boise Regional REALTORS®)

The Idaho housing market is in BIG trouble as virtually every metric shows a slowdown in the Idaho real estate market. For example, the median sold price in the Boise Idaho area has now declined by 13% over the past 6 months alone. In addition, prices only decreased by -2.5% on a year-over-year basis in November and that's the first year-over-year change in the median sold price for negative sales in November. Meanwhile, housing supply in the Boise, Idaho area surged by 131.5% compared to November 2021 yet pending home sales plunged by 45%. This is your latest Boise, Id real estate market update based on a brand new report from the Boise Regional REALTORS® (BRR) and Landpro DATA.

Homebuilders are driving the decline in home prices in the Boise housing market while sellers are trying to stay competitively priced. Inventory is still climbing across the West like in Seattle, Los Angeles, and San Francisco, which is causing the Boise market to slow down. Homes are coming off the housing market, builders are no longer building, and homes are staying up for sale longer, which has caused new construction home inventory to be the highest since 2008 in Canyon County Idaho. New home builders are racking up the staggering cost of inventory, and a possible foreclosure wave could hit Treasure Valley. Developers are starting to rack up on vacant lot inventory as builders stop buying lots. CBH homes, Boise Hunter Homes, Hubble Homes, Toll Brother homes, and Biltmore homes. Affordable homes in Boise, Idaho? It looks more like a possibility. Idaho housing market forecast 2023. Latest Boise real estate market news.

Inflation, cost of living, and Fed rates are crippling the housing market. Sellers are competing with Home Builders' price cuts driving the real estate market down.

Follow us along as we talk about the current state of the Housing Market. Will there be a market crash? Will home prices ever come down? Why is rent so expensive. There are so many questions about the current housing market. Here, we try and answer a few!

Are you looking to buy or sell real estate in Idaho? Do you need market updates? Be sure to follow our content as we upload weekly.

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Landpro DATA https://landprodata.com/

Good News Realty Group LLC, located in Boise Idaho.

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