2022 Recap: Boise’s Insane Real Estate Numbers Tops U.S.
As we wrap up 2022, it's time to reflect. What big things do you remember? One of the most talked about items that effected the Treasure Valley area in a huge way of the last few years was the massive jump in home prices.
Let's take a look at how crazy the home prices were here in the Boise area compared to the rest of the U.S. Home sale prices have been growing just about everywhere in the nation at impressive rates since mid-2020. With that being said a new study by House Method which looks at the housing markets that outperformed or underperformed the five-year national average home sale price.
"Out of the top 150 metros, Boise had the #1 highest sale price increase at 118% from 2017 to 2022.
Here are some of the main findings for Boise in the study:
Boise saw a 118% change which is +63% from the national average (55%).
The 2022 average home sale price for Boise is $512,033.
There was a $276,862 change from 2017 to 2022.
While the market has calmed a bit many were outplaced and forced to move because cost of living simply did not match up to income levels. A serious problem that the area is still facing. While the market has certainly taken a little drop, will the Boise area see a full-blown market crash?
Keep scrolling to learn more.
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