Reaching New Heights
2015 saw continued growth as you can see from the infographics at the top. While Build Idaho is not in the business of economic forecasts, there does not seem to be a reason for 2016 to slow down. As a matter of fact we are already seeing home buyers requesting more information now than last year, and yes, California keeps calling.
The biggest concern for home buyers and builders is going to be inventory- both lots and houses. Local builders are still not building aggressively, fearing another economic stumble but with only 2 month of inventory, we can expect prices to continue to rise. One of the factors that will also influence home buyers and pricing is the number of lots available and types of communities. There are very few truly unique communities within the local area.
So What Should Home Buyers Know?
- Even though it is a sellers market, it is still competitive. There are some 150 Builders who want the chance to earn your business and 300 Communities in the marketplace with lots or new homes for sale.
- The closer to Boise you get the more expensive it is. Homes cost relatively the same build no matter where they are but land is much less expensive in out lying areas.
- People are moving to Boise for the lifestyle which includes affordability and safety. They also want space. While local entities push density, home buyers want room to roam. If you are looking for acreage be prepared to pay or search further out. Good property goes quickly.
- Serious Buyers need to be prepared to make an offer. The average home was for sale for 50 days in 2015.
- All builders are not equal. Many can build a home but not all can build it correctly and finish it as you request. Make sure you choose a reputable builder. We can help you find a builder