Boise Idaho New Construction Report

Please Stay Seated, we are experiencing a little turbulence!  Where are the home buyers? In 2011, builders started to get busy again and by 2013 there was not enough subs to meet demand. Now sub-contractors are calling builders looking for work. What has happened? Are people no longer moving to Boise or are they no longer looking at new homes?

We have not heard anything that could begin to answer these questions but the market has stagnated. No one seems to think we over built and this is the result of too much inventory but the trend is probably going to stay until Fall. Summer is normally slower but the industry and local economy do not want to see it slip much slower.

Here is a look at the last 13 months by county. As you can see, last year at this time Ada County was at over 250 permits pulled and now it is well below 200. Canyon County has remained relatively stable and consistent over the last 13 months.

A closer look of building activity by county-

Changes in the Boise Real Estate Marketplace

1. We noticed three new communities coming to market over the last month.

Click images for Full Report

What you need to know

Luxury home sales are down in Eagle and as the report indicates that the slower conctruction pace and increase in supply may push home values down again.