2020 is officially here and we think it's going to be another amazing year! A new forecast of real estate markets around the nation predicts that not 1, not 2, but 3 Idaho cities (Boise/Nampa, Pocatello, Idaho Falls) will be in the top 10 nationwide for continuing to see some of the largest real estate value increases over the next year. And these increases in value are estimated to be higher than 8%! Veros, a real estate analytics firm, estimated that home prices in Boise/Nampa (ranked No. 2) will rise 8.5%, and Pocatello (No. 3) and Idaho Falls (No. 5) will rise 8.3% and 8.2% respectively.
According to Veros, the reason why these cities (especially in the Treasure Valley) are increasing in value much more rapidly comparatively, is due to the low housing supply. The low housing supply factor is something that has consistently been brought up by real estate experts because it remains an issue. Despite new homes being built and new homes coming on the market every month, the demand is still outpacing the supply in most areas of the Treasure Valley. Contributing to this issue is the continuing growth and influx of new residents moving to the Treasure Valley from others states; mostly California, Washington, Utah, and Oregon.
Boise Regional Realtors reported in their latest real estate data, the median home price for Ada County is $359,900; this is an increase of 12.5% year-over-over!
So to answer your question, the market here will have NO slowdown and will Appreciate anywhere from 10-15%.
IF YOU ARE LOOKING TO SELL YOUR HOME, NOW IS THE BEST TIME..
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