HAS THE BOISE HOUSING MARKET BOTTOMED OUT???
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- Опубликовано: 1 апр 2023
- HAS THE BOISE HOUSING MARKET BOTTOMED OUT???
The housing market has been on a downtrend since the peak in early 2022, and many continue to cry "housing market crash" every chance they can get. But in the Boise Housing Market 2023, we are seeing signs of the Boise Housing Market bottoming out...meaning the home prices may have reached the lowest level they will get this year. Of course, one month of an increase in home sales in the Boise Housing Market and one month of a slight increase in median home prices in the Boise housing market is not enough data to give a very clear Boise Housing Market forecast, but it's our job to keep you updated on what we are seeing, boots on the ground, working with clients daily, in the Boise Housing Market. We've got rising interest rates, lowering housing inventory, all kinds of factors effecting our Boise Housing Market.
If you are living in Boise, Idaho, thinking of moving to Boise, Idaho, or just trying to figure out the Boise Idaho housing market in general, you're going to want to know what to expect.. and the Boise housing market is certainly going all over the place in the last few weeks, homes with huge price drops and homes with multiple offers... will we settle into a stabilized housing market this year??
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I already know your answers, ha ha, do you think the Boise Housing Market is bottoming out? Well, maybe not for long term, but I do think prices won't drop too much more for the next few months with the low inventory and higher buyer demand....
I see this as a seasonal increase in demand and cash buyers temporarily flexing some muscle. When spring fever and the cash buyers are gone, then everyone else is left with a tough economy and higher interest rates. In addition to this, the geopolitical issues are becoming very troubling. The biggest one I see is the move away from dollar as the world's reserve currency. Imagine a world where the U.S. dollar no longer carries reserve currency status. If it happens, it will create some real problems for us.
@@mikej4630 Recessions usually exert downward price pressures on real estate. Robert Shiller who developed the Case Shiller housing index says that now is not the time to buy a house.
@audiophileman7047 @951media @SummerAstonRealEstate FED finally capitulates and admits recession coming (already here actually) and could last up to 2 years. Do you know how this will affect the Boise RE market ???
Never ask a barber if you need a haircut.
Micron has had a couple of rounds of layoffs, HP has had some also. The tech boom is long over and the worst of that fallout is yet to come. Interest rates aren’t going down anytime soon.
Claiming the bottom is a bold move. Rates dipped a bit and buyers jumped in. This won’t last forever.
YES, you and I are in agreement. 👍👍👍 At this time, I am not optimistic about America's future. 😒
All this data is accurate. There very well could be a slight upward trend. But in all honesty, I do not understand how most of the mainstream media uses local real-estate professionals to come up with the best predictions on when the right time to buy or sell is. When it really comes down to it, there is always something around the corner and "the time to buy or sell is now!"
Good video Summer, but I think you've made the most optimistic case. There is a lag between rate increases and the impact on the economy. We're now seeing the impact of rate increases that occurred months ago, and more impact is on its way. Rate increases won't stop until inflation is brought under control. If banks have liquidity problems as a result of rate increases, they'll inject more money into the banking system. Inflation control is priority #1 at the Fed.
I believe we still have a ways to go ! There will be a lag affect but we will see the house market decline for a few more years
The multiple offers are due to low inventory, because of transitioning out of winter. In about 2 months, there will likely be 2 to 3 times the amount of homes under 400k. That’s what I observed last year
It even close, buckle up come Jan and Feb
Currently down 20.5% from the peak. Lots of empty lots off of Collister that have crazy high prices. Time will tell.
Saying the B-word must be déclassé’ in Boise, so lets talk about the interest rates…
Delete PMI and extend loans to 40 years
Obviously the builders got together on this one lol. This won’t work and will create another crash bigger than 08 when people are underwater and stop paying their mortgage.
The buyers that move to Boise are stuck in there own market
Not a bad place to be stuck.
20% dump so far and interest rates are not going down. People are not buying and if they are, they are listening to realtors who have already taken a nasty paycut. 😂