2022 Boise Idaho Real Estate Blog

Boise Idaho New Construction Report

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The consistent demand for new homes has remained strong throught 2015 and prices have risen to levels we have not seen since 2005. The cost of new homes is up on on all fronts according to local builders from land prices to material to labor. The demand for all is driving prices back to where they were at teh peak of the market. So are we in for another crash?

Doubtful on a local level! New construction is heavily driven buy out of state buyers and the appeal Boise has to them. Build Idaho consistently receives inquiries from out of state buyers and they have several commonalities:

  1. They have family here that love it!
  2. They have been coming here for years and have loved getting to know the area and all the things to do.
  3. They like the economics of Idaho and the local scene
  4. They are looking for exactly what Boise offers

While the sharp rise in home prices might be alarming, it is a very different market from 2005. Remember when people bought homes to turn around and sell again? We are not seeing that.

So how is 2015 doing compared to the past years?
Permits for 1/1 to 11/24

  Ada Canyon Total
2015 2621 925 3546
2014 2062 797 2859
%► +27% +16% +24%
Posted by tlangford at 11/19/2015 5:23:00 PM

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