I’ve seen a foreclosure report regarding Idaho. The report came from the Idaho Business Review in the Feb 4th edition. It is interesting to note that the sky is not falling in Idaho. Less than 1%- it is actually 0.611 percent, of the households in Idaho are in some stage of foreclosure while the rest of the US is at 1.033 %.
Does this mean that business is grand? No. Things have slowed. Total home sales in Ada County were down from 10,141 in 2006 to 6,789 in 2007. Nearly 3,350 less homes sold. That is the real problem. In 2005 we sold 11,974 homes in Ada county. The number of homes selling has dropped. Significantly. So what has happened? What has caused the number of sales of homes to drop? Send me your ideas and thoughts. Afterwards I’ll share mine with you. Rich
Tags: Boise real estate, first time home buyers, Foreclosure, housing prices, Idaho Real Estate, Meridian real estate, rent or buy, renting vs buying a home, Rich Nesbit
