Housing Market in Boise: Is the Slow Down Here to Stay?

Housing Market in Boise: Is the Slow Down Here to Stay?
High interest rates + high home prices = a housing market slow down. The Boise housing market has been chugging along through all the interest rate increases of 2023, but what will happen now that the mortgage rates are pushing 7.5%? If you're thinking of moving to Boise Idaho, relocating to Boise Idaho, or are currently living in Boise Idaho, you'll want to know what is going on with the Boise Housing Market as we head into the fall and see the Boise housing market trends.
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[@SummerAstonRealEstate]

The Boise Housing Market historically slows in late fall (except for the "unicorn years") , but what effect will these high rates have on that this year?

[@manuelmach86]

Spent a week in the treasure valley this spring. I have to say, As a Californian making a road trip to Idaho was a jaw dropping experience. Absolutely stunning landscape. Drove through treasure valley and there was construction everywhere. And i mean everywhere! Boise areas infrastructure cannot support the mass. The main freeway was already at capacity. Idaho in general, has never ever seen these types of numbers. The true Idahoans must be livid with domestic migration, and their kids will no longer afford to purchase. California-priced homes at Idaho wages don’t mix. California minimum wage is around $16/hr Idaho is around $7.50/hr?!?

[@jwheatly]

Boise is like congested urban california now

[@mikej4630]

Have you heard a real estate agent ever say, NOW IS NOT A GOOD TIME TO BUY ????? It will NEVER happen

[@michealsizemore1]

It just does not make since to buy right now. Renting is much more cheaper. My rent is $2389 a month and I live in a good area (by The Village). No way you can buy a house here at $2389, especially when you include PITI. Plus, I dont have to worry about repairs and maintenance. Maybe one day this will change but not in the Boise area.

[@joebrophy195]

Thank you for the market update. Prices are slowly coming down and I have seen more houses in areas I'm interested come on the market. My biggest issue is employment not interest rates. Lord willing we will be there in under 5 years if I have I have to wait until retirement.

[@BridgerAston05]

Yes I hope you can make it work to come here! Thanks for watching and commenting!

[@audiophileman7047]

If you can swing it in the next year or two, do it. We're headed into some tough times that may make it impossible to move.

[@sbkpilot1]

Youre mistaken.. Interest rates are over 8 honey... not 7

[@SummerAstonRealEstate]

Thank you for watching! Yes, I am well aware the interest rates are now above 8 - I made and published this video at the end of August when the rates had just breached 7.

[@audiophileman7047]

This is a good assessment of local market conditions in the TV, but boy is this a crazy economy with so many potential problems. I don't know how much longer real estate investors and regular homeowners can hold their homes from the market if economic conditions continue to deteriorate. Investors, a significant part of the market are likely to break first, since continuing losses are unsustainable. The forecast for economic conditions appears to be severe recession and a financial crisis. In 2008 this is what we had, but this time the financial crisis is likely to be different; a credit crisis and/or currency crisis could be in the mix. Tomorrow the international financial world will change forever. It's looking very much like King Dollar's reign is coming to an end.