Treasure Valley housing market continues to grow
Boise Premier Real Estate’s Brett Hughes said most locations in the U.S. are growing at 0.1% per year, while Idaho is growing at 3% with 1,500 out-of-state buyers.
BOISE, Idaho — Idaho’s housing market is growing, and shows no signs of stopping any time soon.
Most housing markets in the U.S. are showing a rate of growth of 0.1%, while the Treasure Valley and Idaho are growing at 3%, making it so that some Idahoans are being priced out.
Brett Hughes has 20 years of experience in the real estate industry as a local real estate broker and owner of Boise Premier Real Estate, and Boise native.
“Anyone thinking about delaying or thinking there might be a crash of some sort, I don’t think it’s going to happen,” Hughes said.
In just Ada County, more than 1,500 people have moved in from outside the state.
Between 2020 and 2021, twelve thousand homes were sold in Ada County with fifteen hundred of those coming from out of state, and mostly from California, according to MLS data.
“It looks like the graphs are somewhere between 45 and 53 percent roughly are coming directly from California, I would assume Washington or Oregon would be a higher percentage, they’re really not,” Hughes said.
If some people are waiting for a market crash to occur in order to buy, Hughes says they might be waiting a while.
“We have so much demand and so much growth I don’t see how it could possibly happen,” Hughes said. “Whether it’s bad or good, the reality is the next couple of years is going to be strong for our market.”
See the latest growth and development news in our YouTube playlist: