Boise Ranked as #4 Real Estate Market in U.S. for 2011
by Kevin Hughes
on Thursday, August 25th, 2011 at 3:04pm.
The Boise real estate market is climbing the charts again, coming in at #4 for the top real estate markets in the U.S. based on the latest Fiserve® Case-Shiller® indexes for 2011.* The indexes track more than 375 U.S. markets with a population of 500,000 or more.
Rankings are based on the projected changes in home prices from the fourth quarter of 2010 through the fourth quarter of 2011.
As any Hughes Real Estate Group team member can attest, we have been seeing a steadily increasing number of multiple offer scenarios across all price ranges recently. Between a significantly reduced inventory of homes for sale from 2010 to 2011, and pent up demand from buyers waiting for "just the right time" to invest in a home- we have experienced a somewhat hectic level of sales activity in the past 30-60 days.
Is this a return to a booming Idaho real estate market in 2011? Not very likely in the short term... It does appear, however, that local market conditions are solidly on course for stabilization and the start of a recovery to a more normal real estate market. As we work our way through the balance of the "shadow inventory" of Idaho bank owned properties in the months ahead, we will continue getting closer to even stronger market conditions.
*The indexes are owned and generated by Fiserv, the leading global provider of financial services technology solutions, and data from the Federal Housing Finance Agency.