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by Jace Stolfo
on Friday, July 20th, 2012 at 8:38am.
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 market was dealt a major blow over the last few years, 44% of the market forecasters think we have finally reached bottom and that the recovery of the real estate market in Boise Idaho just may be a little ahead of other parts of the country. Local market experts are now forecasting a continued slow and steady increase in home prices in the Treasure Valley and the Boise Idaho real estate market. (Read entire Market Conditions article here.)
This recovery doesn’t just pertain to the Boise Idaho real estate market, however. According to an article published in the July 18, 2012 edition of Realty Times entitled “Real Estate Outlook: Improving Markets”, NAR (National Association of Realtors) reports that nationwide, pending home sales for May 2012 were up. They are also predicting a 3% increase of median home sale prices of by the end of 2012. Lawrence Yun, Chief Economist for NAR states, “The housing market is clearly superior this year compared with the past four years. The latest increase in home contract signings marks 13 consecutive months of year-over-year gains“. He goes on to say, “Actual closings for existing-home sales have been notably higher since the beginning of the year and we’re on track to see a 9 to 10 percent improvement in total sales for 2012.” (Read entire article here.)