Are you ready to have your mind blown by the latest housing market trends? In this video, we will dive deep into the data to reveal the truth behind the decline in home prices in Boise and the surrounding areas of Idaho. The numbers don’t lie, and they are showing a shocking decline in home values that many have been trying to ignore. But we’re not just going to show you the numbers, we’re going to take you on a journey and explain how this decline will affect the real estate industry, sellers, and buyers. The market has shifted, and it’s time for everyone to take notice. This is not just a temporary dip, it’s a trend that’s headed downward.
However, this doesn’t mean that it’s all bad news. The reality is that a declining market presents an opportunity for buyers to take advantage of lower prices and for sellers to adjust their expectations. It’s important to stay informed and be ready to adapt to the changing market. We will also take a look at population growth and migration, specifically in California, which is experiencing an 89% increase in home inventory and a 48% decrease in sales. San Francisco, in particular, has an 85% increase in home inventory and a 37% decrease in home sales.
We will also take a look at the months worth of inventory in Boise, Twin Falls, and Coeur d’Alene according to Redfin which is 7.3 months, 9.3 months, and 14.3 months respectively. This would mean it’s a buyer’s market. As we go through the data, we will explore the opportunities that the housing market presents, and how the media’s coverage of it could impact the behavior of agents, sellers, and buyers. So sit back, relax, and get ready to have your mind blown as we reveal the truth about the housing market and explore the opportunities it presents.
The housing market in the US, specifically in areas such as Boise, Twin Falls, and Coeur d’Alene Idaho, as well as the California real estate market is facing a decline in home prices. The excess inventory has led to a decrease in home prices, with Boise experiencing a 6% year-over-year decline according to Redfin. Experts predict that if the market remains flat, home values in Boise could drop by $31,000 by May. It is a buyer’s market in these areas due to the lower inventory of homes and lower buyer demand. However, a declining market also presents an opportunity for buyers to take advantage of lower prices and for sellers to adjust their expectations. It’s important to stay informed and be ready to adapt to the changing market. Additionally, population growth and migration are also playing a role in the current state of the housing market.
In summary, the housing market in the US is facing a decline in home prices, particularly in areas such as Boise, Twin Falls, and Coeur d’Alene in Idaho, as well as the California real estate market. The housing inventory in these areas has increased, leading to a decrease in home prices. This excess inventory has led to a decrease in home prices, with Boise experiencing a 6% year-over-year decline according to Redfin. Experts predict that if the market remains flat, home values in Boise could drop by $31,000 by May. It is a buyer’s market in these areas due to the lower inventory of homes and lower buyer demand. However, a declining market also presents an opportunity for buyers to take advantage of lower prices and for sellers to adjust their expectations. It’s important to stay informed and be ready to adapt to the changing market.
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