Speculation into a slowing housing market has been common recently, with industry reports that Idaho’s high home prices are not sustainable. Overvaluation is determined by changes in prices in comparison to changes in income, and Idaho is not keeping up with its neighbors in terms of income growth. This disparity is causing industry analysts around the nation to question the sustainability of the market, though growth continues at high rates. This week, 208.properties explores the market to determine if a slowdown is around the corner.
Both Boise and Idaho Falls defy the trend seen in most other parts of the nation. Outpacing most of the country in market appreciation, theses two cities are growing extremely fast. Among an array of other top ten lists, Boise and Idaho Falls continue to gain interest and sustain a steep, but steady, increase in population.
Historically multifamily housing units have been utilized in highly populated areas and have brought high turnover for Property Managers. As Boise continues to grow and housing options diversify, multifamily units are becoming more and more appealing to Property Managers and tenants alike. Major multifamily developers are setting their eyes on Boise and the opportunity for expansion.
As we head into spring, Real Estate Agents and Property Managers gear up for the peak of the year. With an increase in available listings and properties in the March, April and May months, taking advantage of the season is crucial to the market. Take a look at these annual statistics and see for yourself.