The Boise housing market is set for a healthy and prosperous 2014. Total sales are still climbing, and with a steady influx of immigrant families moving into the Boise area, the housing market has continued to maintain growth.
Concern remains however, surrounding the significant increase in the price of new homes. The current inflated cost of building lots, labor and material costs in not consistent with local wages, which could potentially cause a slight decrease in new home sales.
- Total homes closed (new and resale) is up 17% from January 2013.
- The average price of a new home in Ada County jumped 17%, and in Canyon County, the price is up 3% (compared to January 2013).
- The amount of new homes that closed in January 2014 is up 28% in Ada County, and in Canyon County, the amount of new homes sold has doubled (compared to January 2013).
Summary based on market reports from Mike Pennington