The talk of Boise is the home sale rates and how they have ballooned in the last couple of years. Most Realtors get asked all the time why home prices are climbing so fast and high in the Boise Valley. If you speak with Idahoans that have lived in the Treasure Valley for any length of time they will most likely tell you that it is the people relocating to Idaho that have made the home prices skyrocket.
Now specifically many are going to tell you the influx is from California and to some degree this is true. However, in real estate, there is always an underlying factor that causes price fluctuations and demand seems to be the reasoning behind the sharper increase in median home prices.
It is a combination of a few facts that are old and true that have caused the increase in values. Yes, many Californians are making their way to the Gem State. But the real underlying reason for house price increases is the old American way of “Supply and Demand”! Nationwide the realty business is working with a very low supply of homes. That low supply of property causes the demand to go up and thus the price of homes go up at the same time. Now even in midsummer, the number of homes listed on the MLS is still low in volume. Here we are and many say it is the Californians, but really they are only one portion of the game. The other is buyers willing to purchase the homes.