The following analysis of select Idaho real estate markets is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact me.
Idaho has added 24,000 new jobs over the past 12 months, representing an impressive growth rate of 3.4%. In February, the state unemployment rate was 3% and, with the ongoing growth in the labor force, there are clearly still jobs out there to be had. Through the duration of the year, I expect Idaho’s employment growth to continue outperforming the U.S. as a whole.
HOME SALES ACTIVITY
DAYS ON MARKET
The speedometer reflects the state of the region’s housing market using housing inventory, price gains, home sales, interest rates, and larger economic factors. Consumer confidence in housing seems to have returned, causing the markets in this report to perform well overall, and for home prices to continue trending upward.
I still contend that we will see solid demand for well-positioned, well-priced homes, resulting in the continuation of a seller’s market.
Matthew Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics and has more than 30 years of professional experience both in the U.S. and U.K.