Boise Idaho Real Estate

The number of Boise bank-owned homes has dropped considerably from one year ago.  In September 2011, REO homes accounted for 79 homes sales, compared to just 19 in September of this year.  The biggest drop can be seen in the month of May where there was more than a 70% plunge from the year before.  In the graph below, you can see a similar drop when looking at April and June.  When gathering data for bank-owned homes in Boise ID, HUD homes are also included in the total.

Boise Bank-Owned Homes

When concerning the foreclosure market share, we should also look  at short sales.  While the number of Boise bank-owned homes has fallen, short sales have gone up slightly.  This past July there were 61 short sales, compared to 48 in July 2011.  But, over the past couple of months

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The Boise foreclosure market share has continued its steady decline through 2012.  In September, foreclosures accounted for just 22%, which is the second lowest we've seen since the market had its downturn.  The only month that was lower was August at 20.5%. Comparing this to a year ago, this is approximately a 50% reduction in the number of foreclosures in Boise, Idaho.

Foreclosure Market Share 2012

When gathering this Boise foreclosure market data, we are looking at bank-owned homes, short sales, and HUD homes.  Most notably bank-owned and HUD homes have dropped 73% since January.  Short sales have declined slightly.  The graph below shows the trend for those sales in 2012.

Boise Foreclosures By Type 2012

While the number of Boise foreclosures have been going down, overall Boise real estate sales

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The Boise real estate market (Boise-Metro) is the most improving housing market in the United States according to a September 2012 market report by Core Logic.

Core Logic's monthly Real Estate Strength Index (RESi) utilizes house price appreciation, total sales pace, distressed sales and new home sales, and overall balance of supply & demand to determine the most improving markets.

For anyone closely watching the Boise real estate market, this will come as no big surprise.  We've seen substantial house appreciation in 2012, a major decline in foreclosure and short sale properties and a shift in people's confidence about the market.

I hear more buyer's saying they want to buy now as they believe it will cost them more if they wait.  It's a

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4610 W. Richardson Boise, ID 83705

Status: SOLD

Richardson Sub

$98,500 2bd/1ba + Detached Garage + Shop/Storage Area

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Listed by Stolfo Real Estate Group | Keller Williams Realty Boise Call 208-484-2560 for more information or a showing

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Boise Idaho Homes for Sale

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According to the Builder Sentiment Index recently released by the National Association of Home Builders/Wells Fargo, it appears that homebuilder, as well as consumer, confidence in the housing market is increasing and is now at a five-year high. This index, compiled from the responses of 478 builders, showed that, nationwide, home builders have seen higher new construction sales this year, possibly buoyed by falling mortgage rates and an otherwise decreasing market inventory. In June, the NAHB reported that the number of building permits for single family homes are at their highest levels since March 2010, and there were more housing starts in June than in almost 4 years.

Consumer confidence appears to be trending upward in the Boise Idaho real estate

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Active real estate listings in Ada County are still low for June 2012. Even though active listings have risen slightly since January 2012, inventory is still well below that of the last several years. For example, in June of 2008, there were 5,098 active listings on the Boise real estate market. In June 2009, that number fell to 3,770. June 2010 and 2011 also showed decreases, with 3,323 and 2,597 listings, respectively. In June 2012, there were only 2,054 active listings in Ada County.  This is a 59% decrease since 2008.

Total Active Listings in Ada County | 1st Half of 2012

Existing homes in Ada County still make up the majority of the listings. In fact, approximately 71% of the total listings each month are existing homes. While the inventory of homes on the real estate market in Ada County may be

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Boise Idaho foreclosures have hit the lowest rate since March 2009, when the Intermountain MLS first began keeping track of foreclosure sales. In fact, the market share of these Boise ID foreclosures, otherwise known as bank-owned homes (REO)*, have been steadily declining since the beginning of the year. In January 2012, the foreclosure market share was 35%, the same as January 2011. That, however, is where the similarity ends.

Boise Idaho Foreclosures | Year Over Year Comparison

As can be seen above, February 2012 recorded a market share of 25%, compared to 35.2% in February 2011. This trend continues through the remainder of the first half of the year. In June 2012, 45 out of 406 total sales were bank-owned or HUD properties, representing an 11.1% market share. In June 2011, there were 119

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The Boise Idaho real estate market is improving—at least most Americans think so. According to a National Housing Survey conducted by Fannie Mae in June 2012, 73% of the American public thinks that now is a good time to buy a home. In addition, 35% of the people surveyed say they expect home prices to rise in the next year.

The Boise Idaho real estate market is backing up that optimism. In an article published in the July 17, 2012 edition of the Realty Times Market Conditions, Paula K. Stern notes that median sale prices of single family homes sold in the Boise ID real estate market for May and June 2012 were markedly higher than 2011. The number of pending sales for June 2012 were also higher than June 2011. And even though the Boise Idaho real estate

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Boise real estate sales remain strong through the end of the 1st half of 2012.  There were 394 recorded sales of single family homes in the Boise Idaho real estate market in June 2012.  This total represents a 69% increase in single family home sales since January 2012.  As shown on the graph below, there were 342 sales of existing single family homes in the Boise real estate market in June 2012, an increase of 134 home sales (64.4%) since the beginning of the year.

Boise Real Estate Sales | 1st Half of 2012

The increase in new home sales in the Boise Idaho real estate market for the 1st half of the year proved to be even more impressive.  There were 25 new single  family homes sold in January of this year and 52 in June.  This equates to a 108% increase in 6 months.

Boise Real Estate Sale Type | 1st Half of 2012

During this same

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