What’s Happening in the East Idaho Housing Market?

Find out how the East Idaho housing market defies national trends.

Despite the national housing market making headlines with fluctuating interest rates and economic concerns, East Idaho is holding its own. While we've seen some shifts, the overall health of our local market remains strong. Here are expert observations you need to know about the local market: 

• Inventory remains steady. One of the key factors influencing our market is the consistent inventory level. While the number of new listings has dipped slightly compared to historical averages, the overall number of homes available for purchase is relatively stable. This balance between supply and demand contributes to a healthy market.
• Prices are on the rise. Home prices in East Idaho have experienced a steady increase. While this might be concerning for some, it's important to consider that our local market is still below the national average. Additionally, when adjusted for factors like home size and amenities, the price per square foot increase aligns with historical trends.

"The East Idaho local market remains healthy and balanced for both buyers and sellers"

• Demand remains strong. The number of homes going under contract remains consistent, indicating strong buyer demand. While there might be slight fluctuations month-to-month, the overall trend shows a healthy market.
• Interest rates stay high. Interest rates have indeed risen, but it's crucial to remember that these rates are still within historical averages. While higher interest rates can impact affordability, they also contribute to market stability. 

Understanding the market can be complex and confusing, so if you have any real estate plans and want to know more about the local market in your area, please don’t hesitate to reach out by phone or email. We look forward to hearing from you!