With jobs losses set to continue to increase in the nation’s most remote urban area, Boise may have some stiff challenges in the near future economically. With mining and timber, the industry of years gone by, just about completely halted, jobs are getting few and far between. It doesn’t bode well when the most positive thing you can point out happens to be that unemployment benefits have been extended another 6 months.
This may sound like a “worst case scenario” for Boise real estate, but there is some positive news.
The sales of new homes and built inventory has started to see a nice uptick. This increase in sales numbers can be attributed to a few things, but mostly due to the decline and stabilization of home prices. As home prices line up with local rent rates, investors start to increase the buyer pool, increasing demand. This combines with the currently present level of buyers, mostly comprised of people who are recovering their credit and first time home buyers. This surge in home buyers has brought a nice degree of stability to the Boise real estate market and will help in eliminating some of the stagnant inventory.
Another bright spot is that the S & P report indicated that the Boise real estate market is close to the bottom price point that it will reach. As much as it can be trusted, this report indicates that the price bottom will be reached in the 3rd quarter of 2009,…[ad_2]
Sourced from by Gavin King