‘We’re Going To See Massive Pain in Idaho’
The Idaho housing market continues to roll, defying expectations, and for some, their ability to afford a home. A few months ago, we reported that one national real estate expert predicted that the country's Boise market is a giant real estate bubble. You can read that prediction here.
Once again, Real Estate Expert Nicholas Gerli, founder and CEO of Reventure Consulting, tells the world to stay away from the Idaho housing market. Gerli says that 'Idaho is the worst housing market in America in a recent YouTube video. 'There will be a massive pain in Idaho.'
Gerli says that listings in Idaho are up over sixty percent from last year. He points out that listings in just about every other state are down. Gerli believes that with so many more homes on the market, it will lead to a price decline.
"Idaho is going to get hit hard," he reveals. "I'm seeing minus fifteen percent in Idaho in just one year in 2022. It's going to be very, very tough for Idaho's housing market." Gerli says that the housing crash has already started, and the country's Western half will lead it. The current local data would show a different narrative than Gerli predicted.
Price growth is back for Ada County, reports the Idaho Statesman. Although the winter months are the dead season in real estate, the area just set a new record. The median home price was just shy of $550,000. Several factors could limit Idaho's continued growth. We take a look at them below.