A look at the cost of housing in Ada County and why prices have recently increased
Idaho has one of the fastest-growing populations in the United States according to the United States Census Bureau, and this growth has been reflected in our housing market.
Homes prices in Boise have been going up dramatically for the past few years, reaching a peak this May when the median price for a home in Ada county topped $600,000. However, with rising interest rates and rising inflation housing prices started to drop in June and kept dropping through the summer.
But in October prices ticked up again, which seemed odd considering interest rates have continued to rise, making it harder for buyers to purchase a home.
Cassie Zimmerman, Project Manager for Boise Regional Relator and Jeff Martel, designated broker and owner of Better Homes and Gardens Real Estate 43° North join Idaho Matters to talk about this discrepancy in the housing market.