2019 Boise Idaho Real Estate Blog

BOISE REAL ESTATE MARKET UPDATE: Impact of New Construction Main Boise Housing and Real Estate News
Pending new construction sales in Ada County for 2012 have peaked as much as 120% over 2011 numbers, hitting (thus far) their peak in March. And numbers are looking to hold high and steady until year's end.

Canyon County, too, has been making out well with its pending new construction sales, reaching as high as 271% in year-over-year comparisons (June 2011-June 2012).

This is a pleasant change from the last six years where new construction sales have shown consistent downturn while, in comparison, new home sales have increased. 2012, however, appears to be the turnaround year with a predicted 480 more new homes built this year than last. Though we can't be certain of these numbers until the year is over, it appears there's nothing to impede this prediction. Plus, even brighter expectations for 2013-14 where new construction could start to dip into existing home sales numbers.

Driving this new construction good news are the following factors: 1. Low supply of existing homes. Buyers can't find what they want on the market, so they decide to build themselves. 2. Competitive lot prices. 3. Boise's draw--as we continue to remain a popular relocation spot for families and professionals, we are certain to see--no matter what the numbers--slow and steady new construction growth for the area. And that's good news for everyone! To see a short video presentation, including prediction charts, watch the following: **Mike Turner is the Founder and CEO of Front Street Brokers, Host of the Boise Real Estate Radio Show, and Editor of the Boise Real Estate Newspaper. Mike specializes in Luxury Home Sales in Idaho, and is widely known for his comprehensive knowledge of local market trends and opportunities.

 
Posted by MikeT at 11/6/2012 9:53:00 PM
Comments (0)
No comments yet, login to post a comment.
Add Comment
Provide comments on this blog entry. If you have an account with this site please sign in.
*Title *Email Web Address *Comments

 

Michelle Penick, Build Idaho Client Real Estate Services

Michelle Penick

Client Care Team
208.629.0217 | [email protected]

Contact Agent
Search
★★★★★ 5 stars - "Our experience with Full Sail/ Build Idaho was great from start to finish! "