The Boise housing market is coming off the strongest sales period the region has seen since before the housing bubble burst in 2008. Low interest rates and relatively low demand helped drive home values higher this summer.
Homes sometimes sold within hours of being listed, sellers were getting multiple offers, and realtors were seemingly working around the clock. The month of July was the most active the market has been since before the recession. Privately, some in the industry even wondered if the market was getting too hot too fast, and another bubble was around the corner. A quieter August and September helped quell those fears.
A side-by-side look at data from the summer of 2013 shows that while the Boise-area housing market has been improving, it’s still a long way from reaching pre-crash levels. To illustrate differences between the two periods, we compared 11 key categories from July of 2006 and July 2013.
Here’s how they stack up.
KBSX this week will look at several aspects of the Treasure Valley housing market. On Tuesday, we’ll examine one segment of the market that’s struggling to bounce back: new home construction. Wednesday, we’ll report on how the improving market is boosting realtor numbers. And of course, we’ll have plenty of data-filled charts and even more context posted here on the website.