Lewiston/Idaho Real Estate Prices/Market

By
Mortgage and Lending with EBM, Inc.

The national economic news, particularly in relation to deteriorating home values and the increase in foreclosures, is frightening.  Is Idaho really any different?

 

Idaho is different - The Federal Deposit Insurance Corporation recently released state profiles that indicate Idaho's home price index for the second quarter of 2008 increased by 1.2%.  In addition, the median price of single family homes in Nez Perce county from June 2007 to June 2008 increased by 4.41%, according to Lewis-Clark MLS.  Idaho in general and North Central Idaho in particular are fairing better than the national average.  Because home values have remained stable, the refinancing option is practical for homeowners who want to reduce their monthly payments with the current lower interest rates.

 

That said, Idaho has experienced an increase in foreclosures.  However, according to the Mortgage Bankers Association, Idaho is ranked 42nd out of all the states in rate of foreclosures.   Overall, purchasing a home now may allow you to take advantage of the increased inventory available and great interest rates.

Comments (2)

Don Rogers
Keller Williams Realty Chesterfield - O'Fallon, MO
Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes

Helen,

Welcome to active rain and congratulations on your first post.  It is good to know that your local real estate market is fairing better than expected.

I hope to be reading more from you in the future.

Aug 09, 2009 10:33 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

We invite you back to ActiveRain in the year 2017!

Jan 01, 2017 04:42 PM