New Subdivisions in Treasure Valley for 2022 Main Idaho Real Estate Insights

Builders took down over 4,800 building lots in 2021 so developers are going to need to develop more land to meet current demand.

New construction is going to be the key to managing increasing home prices. Out of state homebuyers are coming and traffic is expected to remain just as strong in 2022.

 

Total Building Permits:

  2021 2020 2019 2018 2017 2016 2015
Ada County 4,885 4,758 4,340 3,964 3,859 3,593 2,980
% Change from Previous Year +2.67% +9.6% +9.49% +2.7% +7.4% +20.6% +31.1%
Canyon County 2,616 2,303 2,055 1,700 1,444 1,282 1,028
% Change from Previous Year 13.59% +12.0% 20.88% +17.8% +12.6% +24.7% +18.9%

 

 

Out the gate, in January we are already seeing many buyers and already seeing multiple offers on homes. 2021 was the first time that the buying season started in January instead of April and it looks like 2022 real estate in Boise is also starting in January. For those of you that follow us you know that we preach three things for buying a home in this market

  1. Be financially prepared.
    You cannot decide that you found the right home and then call a mortgage professional. The home will possibly be gone before they have enough time to help us write a strong offer. If you are paying cash, have documents, ith private details hidden, ready to show you are capable to write a check.
     
  2. Work with agents who understand the market and how to write a winning offer
    We help clients understand what it takes to make a good offer and then we have our own best practices. Escalation clauses are tricky if not done correctly. 
     
  3. Get in front of Off-Market Opportunities
    We do a lot of networking to understand what lots builders have available and what developers have coming up. Not everything is on the MLS and working with a successful agent, especially in new construction, will help put you in a better position.

We are here to help, let's get started.

There is a lot of discussion about how Idaho is changing with the influx of people looking for what we have. What are your thoughts?

 
Posted by tlangford at 1/18/2022 8:29:00 PM
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