Idaho Housing Crisis Continues
The real estate market is heating up to all-time levels. The real estate market is cooling off, so now is the time to buy or sell your dream home. Whether it's on the radio or any means of media distribution, Idahoans are continually being inundated with conflicting messages. However, one element of truth remains when it comes to Idaho real estate; it's getting more and more expensive to buy a home in Ada or Canyon Counties.
In Ada County, the median price was $540,000, reports KTVB. Not only has the median price continued to rise faster than Dave Petso's stock market, but homes valued at one million dollars have increased. Last year, 314 homes sold at a million dollars in Ada County. This year alone, the number is already over 362. Coul we see that number exceed 400 homes? We still have roughly four and a half months left in the year.
Canyon County is just behind Ada County when it comes to the median price of homes. The cost of a single-family home is barely under $400,000, says the Idaho Press. Despite the efforts of developers to build more homes, the lack of available inventory continues to drive up the price of homes. Surrounding counties are now seeing their home values explode as Idahoans look for a home that they can afford to buy. The McCall/Donalee area has seen several new houses built recently.
Politicians and local leaders tell us that they do not see a solution anytime soon due to Idaho's population growth.
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