New construction home sales in Boise had been falling for 6 consecutive years, but appear to have finally reached a tipping point with home shoppers in the area. With a 75% increase in residential new construction, one has to conclude that this translates to more jobs and money being pumped into the local economy.
Builders appear to be racing to meet this new demand buy providing affordable home options distinctively different then the foreclosures they are competing with. A low cost, brand new home that is walk-in ready is proving to be popular with more and more home shoppers who are discouraged by the dwindling foreclosure properties on the market that often need a substantial amount of repair or improvements. Buyers often can’t finance the improvements they want to make to a home when buying a foreclosure, so building a home becomes an attractive alternative in this ever-changing housing climate.
Pending New Home Sales Soar in the Treasure Valley
While the nation holds their breath on whether or not the 2012 housing market will finally climb out of doldrums, Boise, Idaho is quietly surging ahead with, amongst other things, an explosion in new home sales. As of February 2012, pending new home sales were up over 75% compared to last year for the Boise metro housing market.
This sudden uptick in new home construction is taking many by surprise, and as has been fueled primary by the number of interested buyers but lack of available existing homes for sale in the Treasure Valley. Currently the supply of homes for sale in Ada and Canyon County are near decade record lows, forcing buyers to look at new construction for the first time in years.
New construction home sales in Boise had been falling for 6 consecutive years, but appear to have finally reached a tipping point with home shoppers in the area. With a 75% increase in residential new construction, one has to conclude that this translates to more jobs and money being pumped into the local economy.
Builders appear to be racing to meet this new demand buy providing affordable home options distinctively different then the foreclosures they are competing with. A low cost, brand new home that is walk-in ready is proving to be popular with more and more home shoppers who are discouraged by the dwindling foreclosure properties on the market that often need a substantial amount of repair or improvements. Buyers often can’t finance the improvements they want to make to a home when buying a foreclosure, so building a home becomes an attractive alternative in this ever-changing housing climate.
New construction home sales in Boise had been falling for 6 consecutive years, but appear to have finally reached a tipping point with home shoppers in the area. With a 75% increase in residential new construction, one has to conclude that this translates to more jobs and money being pumped into the local economy.
Builders appear to be racing to meet this new demand buy providing affordable home options distinctively different then the foreclosures they are competing with. A low cost, brand new home that is walk-in ready is proving to be popular with more and more home shoppers who are discouraged by the dwindling foreclosure properties on the market that often need a substantial amount of repair or improvements. Buyers often can’t finance the improvements they want to make to a home when buying a foreclosure, so building a home becomes an attractive alternative in this ever-changing housing climate.
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