HOUSINGNEWS REPORT
BOISE HOUSING MARKET BURSTING AT THE SEAMS
BOISE METRO MEDIAN HOME PRICE TRENDS
ANNUAL HOME PRICE APPRECIATION
SINGLE FAMILY & CONDO MEDIAN SALES PRICE
50%
$250,000
40%
$200,000
30%
20%
$150,000
10%
$100,000
0%
-10%
$50,000
-20%
-30%
$0
the Boise Valley Economic Partnership. “Hewlett-Packard is not headquartered here, but is a significant model of what created the tech side of things. The laser printer, most of the patents and tech work done to create it, was done in Boise.” While attracting new jobs and investment to the area is important, Krause said attracting new talent to the area has become increasingly necessary. While HP has reduced its footprint in Boise, Micron has solidified its impact on the local economy, investing millions of dollars in training the next generation of engineers and computer scientists at Boise State University. “It’s been paying off in the local economy. We have students coming from places like California who then stay and work for local tech companies,” said Mike Journee,
communications director for Boise mayor David Bieter. “The Boise economy has certainly shifted in recent years. We’re a very white collar town here now.” Touting a very easy going yet sophisticated lifestyle, Journee said local companies aren’t having a problem convincing people to move to Boise. In fact in the past year Krause has given a number of what are called “chamber tours,” where chambers of commerce from other cities bring 100 to 200 executives with them to Boise to see what strategies they can take back to improve their own cities. Some of the more recent groups to visit came from Colorado Springs, Colorado, Folsom, California, and Louisville, Kentucky.
is that we’re creating the American Dream for the people who live here,” he said. “Our leaders are focused on being business friendly and making sure we’re growing in the right way.” Affordability Crunch During the Great Recession, residential real estate in Boise, like many other parts of the country, was a shining opportunity for traditional buyers to get into the market, and for investors to pick up properties in foreclosure. But that shine is somewhat tarnished due to current market conditions. Even with fewer homes for sale, BRR’s Vanstrom said home sales are staying fairly consistent year over year while home prices are continuing their upward trend. “We are seeing the same trends all other markets are seeing. Historically low inventory. We do have a lot of
“It’s a real honor for our city. At the end of the day what we really hope
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JULY 2018 | ATTOM DATA SOLUTIONS
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