Boise Metro Houses Fly Off the Market

Published January 8, 2019

Happy New Year! In our first Housing Market Report of 2019, we take a look at the Boise, ID, metro – consistently one of the hottest CBSA on our Top 10 list. Throughout 2018, Boise reported strong numbers across many categories we analyze, but this month Boise had the:

Lowest Months Remaining Inventory (1.61)
Fewest Active Days on Market (54)
Fewest Sold Days on Market (50)

What does this mean? And why is it happening? There are a few factors directly influencing this red-hot market, and markets in the western United States as a whole. First and foremost, it’s population growth. Idaho is expected to hit a population of 2 million people by 2025, making it the third-fastest growing state in the country. Employment has also been on the upswing, and has a high correlation with home sale price.

This growth is directly and quickly impacting this housing market, with both positive and negative results. MRI is at just 1.61, an unsustainable figure that makes it tough for buyers but positive for sellers. Houses that do hit the market are “flying off the shelves” and selling in an average of just 50 days.

Large portions of the Northwest U.S. (Portland, Oregon; Seattle, Washington; California) are part of our Top 10 list. However, these metros are largely unaffordable, overpopulated and driving people out. The result: Many are turning to Idaho for its economy, quality of life and affordable taxes. Homeowners in the aforementioned areas can sell their homes for upwards of $500K and move to Idaho where they can get much more for their money.

Source: proteckservices.com/housing-market-report-january-2019/