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by Jace Stolfo
on Thursday, October 18th, 2012 at 2:58pm.
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.
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.
While the number of Boise foreclosures have been going down, overall Boise real estate sales have been very strong. As you can see in the graph below, nearly every month of 2012 has outperformed 2011. June and August recorded the largest number of home sales with over 400 each month.