When you think of Idaho, what comes to mind? A sack of potatoes or maybe a bathroom stall? In the next couple paragraphs I will outline what Idaho should really be known for; a booming housing market and stellar economy.
I am often asked how the housing market is doing, "pretty bad huh?" I usually raise an eyebrow in faint surprise and ask the nationally read customer if they think that this is the case with Idaho. The reply is, "well of course, its all over the news!" This is when the education begins and I can barely contain myself as I rattle on and on with exuberance:USA Today released a front page article titled, 'Which state has the fastest-growing economy?', that was released a few months ago. It details how Idaho is the heart of America's biggest economic boom and this run is unmatched by any other state in the nation. Unemployment is almost non-existent at 2.4% and Idaho Falls is about half that.
The Idaho Falls housing growth, as reported by The Office of Federal Housing Oversight, shows appreciation at 11.69% over last year (#6 in the country). Out of those 6, Idaho Falls had the best 3rd quarter by far.
OFHEO Metropolitan Area House Price Indexes
(2007 Q3 Data)
To complete the triad of unquestionable good news, Idaho Falls has over 50% less foreclosures then last year. With markets across the country struggling for ANY sign of positive information- Idaho is one of the bright spots and Idaho Falls is a major contributor to that. Idaho: Not just known for potatoes anymore, or Larry Craig.
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