The National Association of Realtors has recently reported that raw housing inventory is at a 13 year low nationally. I don’t know if locally (Boise/Meridian Idaho) we are that low as our statistics are not so readily available but we are down to levels I have never seen in 12 years as a licensed broker.
Household formations are expected to increase in 2013! The great recession of 2008 saw many young people moving back with mom and dad, older adults moving in with family members, even divorced couples living under one roof just to keep a roof over their heads. People got roommates. Our world shifted.
In the coming months FHA will be implementing changes, and most would say not for the better. First time buyers better get a crackin’ because these changes will most likely be effecting them the most!
Well over a year ago I wrote about the looming shortage of qualified trades people available to build new houses. When you go from gang-buster building to a dead stand still things are going to change. In many cases experienced carpenters, plumbers, and framers decided it was time to change careers. Many went back to […]
So how well did I do with last years predictions? On most points pretty good! Idaho unemployment sits at about 7.1% with a strong lead in construction. The number of distressed homes (short sales and bank owned) on the market continued to drop and has stayed pretty steady at about 24%.