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The debate continues- Are we at the bottom of the Idaho Real Estate market? Main Idaho Real Estate Insights
People want to make the question so simple, either yes or no but there are so many factors that go into the question. It is really an economic question so you have to look at the big picture. Looking at one trend chart, like sales does not really answer the question.

Idaho Real Estate MarketI will answer the question and then try to stand my ground because everyone has an opinion but at the end of the day the answer is that we have not reached the bottom of the market based on two deciding key performance indicators. They are unemployment and Notice of defaults. Markets are driven by money and until the amount of unemployment returns to normal parameters are people can confidently spend money, the idaho real estate market has not bottomed and will not begin recovery until unemployment returns to about 3% and the number of short sale, foreclosures and notice of defaults return to normal levels. For a complete market analysis read The Normalcy Report

 

Median List Price
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Posted by tlangford at 2/25/2010 7:24:00 PM
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Michelle Penick, Boise Idaho Real Estate Agent

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Michelle Penick

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