2022 Boise Idaho Real Estate Blog

Idaho New Construction sees fewer homes being built but the average permit value is rising.

Main Boise Idaho New Home Trends

Currently the Boise Idaho Real Estate Market is in flux. Wait, it is always in flux. Here is another perspective of what is going on with new homes that are under construction.

The following graph charts how average permit values have changed over time.

Boise Idaho Building Permit Values

The next question is what does this chart actuually reveal? Have average permit values gone up? It would be hard to refute that based on the diagram but there are two things that are influencing this. One, there are not as many starter homes being built. Most new home buyers currently are empty nesters. Of course, they do have the money, but more importantly they are high amenity homes. Between amenities in the home, the RV bays and outdoor living amenities including landscaping, today's homes are decked out. The empty nester buyers, while conservative in what they will pay, they want value. They also want what they want. They are not scaling back on size necessarily, nor are they seeking a home with just four exterior walls , which decreases the cost.

The other side of the coin is starter homes. It would make sense with all the news reports about screaming deals in the current real estate market these home buyers are not only looking for deals but expecting them. Starter home buyers are not seeking new construction currently which also has to do with the economy including gas prices and unemployment..

Posted by tlangford at 1/20/2012 6:24:00 PM

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