2014 Boise Idaho Housing Report PART 1

Dated: 01/14/2014

Views: 674

2014 Boise Housing Report - Visual Analysis by Mike Turner, a Boise real estate agent and owner of Front Street Brokers, a Boise real estate company located in Downtown Boise.

Part 1 - Boise Area Home Sales Report:  The number of homes sold in Ada County was up 14% in 2013.  This was higher than most predicted, and this high demand helped Boise home prices soar this year, (more about home prices in Part 2, coming next week).
New Construction was also up in 2013 compared to last few years.  However, new construction is still preforming well below what we saw 10 years ago.  New Construction is likely to increase in 2014, but that doesn't mean 2014 will have MORE homes sold in total.  
If there is going to be an increase in new homes sold in the Boise housing market in 2014, there is likely going to be LESS existing homes sold 2014.  The one thing that could alter this likely path, is a large swell of relocation buyers to the Boise area in 2014.  This is quite possible, since every Boise real estate agent I speak with has buyers they are communicating with that looking relocate to Boise in the near future.

There is a strong trend of people wanting to move to Boise for a better lifestyle, better family environment, good schools, lower tax base, etc.  This trend seems to get stronger every year. So if it continues in 2014, then it is possible that we could see an increase in home sales in both existing homes and New homes sold, which would be a huge economic impact for the community as most people moving here are either semi-retired, retired, work from home (their company is based in another state), or the have their own company that they are bringing or starting here in Idaho.
See More 2014 Housing Report - In Part 2 coming next week.
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Mike Turner

Trivia about Mike: Prior to working in real estate, Mike worked for few years on movies and TV shows around the world as a Camera Boat Operator and Marine Logistics Coordinator, including the TV serie....

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