2022 Boise Idaho Real Estate Blog

Biggest Hurdle for Idaho Home Buyers in 2013- Price Increases!

Main Idaho Real Estate Insights
With supply of homes for sale remaining relatively low, 2012 saw steady increases in home values across Boise Valley. What will happen to Idaho real estate in 2013?

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Many who were underwater with their home loan may now be back up and able to sell their home without having to go through the process of a short sale. Of course the home that they want has also risen in price as well.

The main reason the area has seen steady increase in home values is simple economics. The demand to buy homes has been strong, and growing, while the # of homes for sale has not increased enough. Boise is a city in demand and in-migration continues to drive population increases in Idaho.

One of the interesting components of new home sales is that costs are increasing. Many suppliers and trades, have noticed the increase in activity for builders and are therefore increasing their prices. The price of wood is expected to go up dramatically the first quarter of 2013.

Builders who were able to buy bulk priced lots will still remain profitable but many builders may have a challenge as home are sold based on similar homes in the area and not what it costs to build.

Posted by tlangford at 12/31/2012 4:49:00 PM

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