BOISE HOMES—HAS THE MARKET STABALIZED?
Boise home pricing has stabilized (in my opinion and others). Granted, we could see a spurt of depreciation if inventory were to increase substantially. However, inventory levels within the Greater Boise-Nampa Real Estate Market have subsided drastically within the past 6 months. If this trend continues then Boise home pricing will continue to stay stable and appreciation should begin.
Typically, any type of trend in home pricing is found at the employment epicenter of our Valley–Boise. Statistics show that there has been some appreciation (although minimal) within certain pockets of SE Boise and North Boise. This is a very good sign and I hope that the trend spreads throughout the remainder of the Treasure Valley that include Meridian homes, Kuna homes, Eagle homes, and Nampa homes.
A strong case for market stabilization can be found by viewing market statistics from the 1980’s. You see, the real estate market during the mid 1980’s was similar (not exact since typical interest rates during this time were at 15%–much different then the 4.5% mortgage rates at this time). At the “bottom” of the market during the 80′s, a potential purchaser could purchase a home for less then what it costs to rent a home. When this happened, home pricing began its upward climb. One can assume that this trend will surface for Boise homes, as well.
At this time, one can purchase a Boise home for sale for less then it costs to rent. I, along with most real estate experts predict that we are at the bottom of the market due to this fact.
It’s time to take advantage of the historically low Boise home prices and interest rates before this opportunity passes. Please call or email me to discuss your options!