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Boise Idaho New Construction Report

June 2016

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Inteframe Truss Company of Idaho   Bosch Appliances   Thermador Appliances

Boise Idaho June 2016 New Construction Summary Snapshot

Canyon County June 2016 New Construction Snapshot


Building Permits continue to exceed previous years but...

This month we see a significant deceleration of building permits across the Boise Valley. While deceleration it is not uncommon at this time of the year, it is interesting that demand still seems to be high for current market conditions for the slow down?

While that sounds negative maybe, overall new construction continues to show significant permit activity.

Treasure Valley Building Permit  Activity June 2016

Trey Langford
Founder

Compare how building permit activity has grown year over year

Boise Building Permit  Activity June 2016

 

Nampa Caldwell and MIddleton Building Permit  Activity June 2016

 

Boise Idaho Truss Manufacturers

 

Here is a closer look at the last 13 months, June 2015 to June 2016:

Comparative Building Permit  Activity by County

*source Construction Monitor

Review of Average Home Prices by Quarter:

As you can see local real estate ha clearly rebounded and are now surpassing the peak we saw back in 2006.

 

Ada County-

Ada County Idaho Home Values

Canyon County:

Canyon County Idaho Home Values

 

Thermador Appliances

 

Local Real Estate Report

Ada County-

Meridian Real Estate Market Home Inventory

Canyon County-

Nampa Real Estate Market Median Home Value


And how is this affecting home values?

Boise Real Estate Market Median Home Value

Nampa Real Estate Market Median Home Value

Check Back monthly for Updates!

 

Bosch Appliances

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?

  1. 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.
  2. 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.
  3. 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.
  4. Serious Buyers need to be prepared to make an offer. The average home was for sale for 50 days in 2015.
  5. 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

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BuildIdaho & Group One & Sotheby's International Real Estate

 

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Trey Langford
Founder
Client Services/ Realtor

Email
208/ 724-9636

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