What is Happening in the Boise, Idaho Real Estate Market?
Your Local Housing Market Update
As Boise, Idaho continues to grow in popularity as one of the best places to live and relocate to, so do home prices. Because of this, we want to be a resource to you when it comes to what is happening in the Boise Real Estate Market. Watch our most recent Boise Market Update below, where we discuss pricing in the Treasure Valley, more specifically in Ada County!
Looking for real estate information on your specific area? Do you own or want to own real estate in Meridian, Kuna, Star, or even Eagle, Idaho? Enjoy our free comprehensive market analysis sent straight to your inbox every month! We have updated home prices for Ada County, Canyon County, Gem County, and more. Just reach out to our team of Real Estate Market Specialists to stay up to date.
What you’re hearing is true…There is a correction/shift happening in the housing market. This is what homebuyers have been hoping for!
BUYERS: Instead of paying well over list price and competing against multiple offers, your interest rate will be higher. You might be paying more per month than the historically low interest rates that were available a few months back, but your total cost of ownership over the term of your loan is down. If you can’t seem to make the payments work with the 30 year fixed loans, seriously consider a 7-year adjustable rate mortgage. Data shows most people are not even living in their homes longer than 5 years these days.
SELLERS: You have an appreciating asset which is the best hedge against inflation. Instead of appreciating at record levels of 20% or more, it will appreciate at a normal rate of 3-5%. If you are selling your home, it’s CRITICAL that it is being presented and marketed in a way that stands out among the rest. Also, your pricing strategy is more important right now than it has been in a very long time. Real estate is the best place to have your money with high inflation. Don't let the news influence you.
Curious how this impacts you regarding your specific situation?
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