There aren’t many options for homebuyers in Boise these days. Here’s why.
The real estate market around Boise continues to remain hot. In fact, our 1.9-month supply of inventory in Ada County and our 2.02-month supply in Canyon County are both all-time lows.
Much of this inventory shortage is taking place in the $250,000 and under price range. There simply isn’t enough inventory out there for all of the first-time buyers, renters, and investors to choose from.
There are several philosophies on the reasoning behind this. Boise Regional Realtors just released a report centering around the fact that people are living in their homes for much longer. In the past, the average was around five years. Today, it’s closer to 10.
Another reason that the supply in Boise is limited is simply due to our growth. We’ve doubled in size in the last 10 years, and it’s predicted that we will double again in the next 10. This should lead to a lot more new homes being built, even though builders are continuing to run into issues.
If you have any questions for us about the market or about real estate in general, give us a call or send us an email. We would love to hear from you.