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Boise Idaho Real Estate Report- New Construction cranks up the heat!

Main Idaho Real Estate Insights
More Boise builders enter market and more new homes break ground.

Boise Idaho Real Estate Update

Idaho HOme BuildersSince 2007, building permits have been declining. Prior to 2007, home builders were feverishly building to meet demand. Many speculate the area was over built, which is true, but imagine how prices would have sky rocketed had we built for actual people instead of investors and speculators. While the Boise Real Estate market recovery would not have lasted as long it would have had a much great disparency between where the high values were and where they are now.

After the Boise Real Estate Market crashed there was an abundance of inventory. Many builders had built homes that they could not sell. There were even builders who were depending on investors to buy their homes who vanished over night. As the economy plummeted, people became upside down in their homes and unemployment began to create short sales, REO's and foreclosures.

Today, builders are scrambling to find dirt. New builders are coming into the market and builders that were waiting for the market to return are ready to capitalize on opportunities. Due to the lack of homes on the Idaho MLS many are turning to new homes for sale and building custom homes.

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Posted by tlangford at 7/13/2012 11:19:00 PM

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