Boise housing market to remain 'hot' in 2019
BOISE, Idaho (CBS 2) —
Could 2019 be the year the housing market in Boise cools down? The answer from Idaho-based HomeStreet Bank is "No."
Senior VP Natalie Overturf at HomeStreet says you can expect to see another year of rising home prices as more out-of-towners flock to Boise.
Here are her predictions:
- Inventory issues will continue to plague Boise in 2019, as there are not enough homes on the market to keep up with demand. As a result, expect to see home prices continue to increase next year.
- Interest rates have gone up .5 - .75 in 2018 and will continue to rise in 2019, decreasing buying power.
- As Portland and Seattle become less affordable, Boise will be an attractive destination for Californians looking to relocate.
Boise will remain a sellers’ market into 2019. Overturf summarizes by saying Boise has been one of the fastest-growing cities in the nation, and housing inventory remains tight, giving sellers more leverage.