Housing prices continue to see downward pressure in Boise, ID as more and more distressed properties come to market. However, Intermountain MLS’s February 2011 market statistics also shows inventory levels continuing to decline around Boise and sales staying steady.
About half the inventory currently on the market is one form of distressed property. Its this one factor that is keeping housing prices from recovering as inventory and sales are doing their part.
Its a great to see so many buyers out their purchasing these aggressively priced distressed properties. And honestly, this is exactly what we want, and frankly need, to have happen before we can hope to see more stability in the local real estate market.
Eventually we’ll see the glut of these homes off the market and return to a more stable housing market here in Boise. That’s something we all want to see happen. Until then, happy hunting to the investors!
Have a look at Boise Existing Home Sales Numbers for February 2011.
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