The Allure Of Boise’s Housing Market: A Closer Look At Key Factors

At one time, there wasn't a day when the Boise-area housing market did not make headlines. Regardless of rising home prices or a one-hundred-year pandemic, it couldn't stop the thousands of people who bought and sold homes in Idaho.

The Boise real estate market isn't as famous as home markets in Los Angeles, Seattle, San Fransico, or Portland, but it has attracted significant national attention from the major networks to national publications. Experts attributed the attention to three related factors.

The first reason folks moved to Idaho was the popularity of remote workers. In other words, you could do your job from anywhere, so if you hated the major city rat race, why not move to a private Idaho mountain community like Tamarak?

Idaho's independent lifestyle was another attractive force luring folks to the Gem State. Low crime and the state's family-friendly communities were among the most mentioned items by newcomers who left the West and West Coast states.

Idaho Homes were affordable compared to their big city counterparts. Folks could sell their homes and get more for their money in Idaho. Unfortunately, home prices rose in Idaho due to the increased demand.

The housing market was unstoppable until the Fed raised interest rates several times in hopes of fighting inflation. Homeowners who were used to a three-percent interest rate couldn't get the same home at a six-percent interest rate.

Every Idaho home buyer and seller, along with mortgage professionals, is looking for the Fed to lower rates. Believe it or not, if rates are reduced, the Boise housing market will be on fire again.