Here is a "clear view" of the market so far in 2020! The real estate market is moving at a fast pace in the Treasure Valley. There are new people moving into the Boise area, but also, many locals are moving, too, as home values have made it possible to make the changes they have been thinking about. New construction is very busy throughout the Valley as builders work to meet the demand for needed homes. New homes account for two-thirds of active single family homes on the market today (628 homes), while existing inventory stays lower at one-third of the active, single family homes on the market (288 homes), so that finding an existing home is a little more difficult. Total, there are 916 homes on the market in Boise, Meridian, Eagle and Garden City today, January 15th, 2020. Here are some quick stats for you for Boise, Meridian, Eagle and Garden City combined:
Active - 916
Sold (since December 1st, 2019) - 906
Pending - 1,002
The market will continue to appreciate. According to FreddieMac, "the overall U.S. economy is actually pretty strong on most accounts, including: the lowest unemployment rate since 1969 (3.5%), solid wage growth, and steady GDP growth. As a result of this and the other predictions below, Freddie Mac predicts the housing market will "continue to firm" instead of crashing."
And, as we have become accustomed to hearing, "Realtor.com's Top 10 Housing Markets for 2020: 1. Boise City, ID; 2. McAllen-Edinburg-Mission, TX; 3. Tucson, AZ; 4. Chattanooga, TN-GA; 5. Columbia, SC; 6. Rochester, NY; 7. Colorado Springs, CO; 8. Winston-Salem, NC; 9. Charleston-North Charleston, SC; 10. Memphis, TN."
Oh boy! You can expect good appreciation for your home!!
If you have specific questions about your home, or about the market, or related information about your home, please contact us by phone, text or email and we will be happy to help answer them.
Have a wonderful day and we will talk with soon!
Steve and Linda
