Idaho Economic Market Report
The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact our office.
Following a trend that started last fall, job growth in Idaho continues to moderate. The addition of 18,400 new jobs year-over-year represents an annual growth rate of 2.5%. This is to be expected at this point in the economic cycle, but it’s worth noting that the current rate of job growth remains well above the national average of 1.6%.
In May, the state unemployment rate was 2.8%, marginally lower than the 2.9% rate of a year ago. The state remains at full employment, though it is interesting to note that the employment rate remained below 3% even as the labor force rose 2%, suggesting that the economy remains very robust as there are still job openings to accommodate new workers.
- 6,936 homes were sold during the second quarter of 2019, representing a modest drop of 2.8% from the second quarter of 2018.
- In Northern Idaho, Shoshone County was the only county to experience sales growth, with sales up by 21.3% over the second quarter of 2018. There was a modest decline in sales in the other two counties. In Southern Idaho, Canyon and Payette counties had modest sales growth, but the rest of the region experienced lower sales activity.
- Year-over-year sales growth was positive in just one of the Northern Idaho counties. Sales rose in two Southern Idaho market areas relative to the same period a year ago.
- Pending sales rose in the quarter, suggesting that closed sales next quarter are likely to be an improvement over current figures.
- The average home price in the region rose 7.8% year-over-year to $358,406 and was 3.2% higher than the first quarter of this year. Continue reading…..
Welcome Bonnie Burry
Windermere Powerhouse Group is proud to announce Bonnie Burry has accepted the position of Designated Broker. Bonnie brings a wealth of knowledge and a spirit of adventure and generosity to our brokerage. She shares our vision and passion of relationships before sales, strategic growth and impeccable service and ethical industry standards. Bonnie is a Certified Residential Specialist, earned her Associate Broker designation nearly three decades ago and is a long-time member of the Top Producers club. She has mentored countless agents, served in leadership roles and is excited to take on the challenge of Designated Broker at Windermere Powerhouse Group, a flourishing new brokerage in Boise. And Windermere Powerhouse Group is excited to have Bonnie leading the team.
Get to Know Bonnie
Bonnie’s love for homes and the Idaho hills began as a small child growing up on a fruit ranch in Emmett, Idaho. She followed her father around while he built the home she grew up in. There she developed building skills, a love for design, and the integrity instilled by an Idaho rancher.
A career in the industry was by default. She was on her way to obtaining a masters degree in education when she realized her true passion is real estate. And the rest is history. That side track has turned into a 35 year love affair with real estate. Loving the process of helping her clients get the best service possible is her heart’s joy.
She proudly served on the Historic Preservation Commission, helping to the maintain Historic integrity of Boise’s North end. Her love for construction was obvious in her many restoration projects. As a licensed contractor, she saved over 25 homes from decline and gave them new life. This became her signature style!
See our Office
We invite you to come by our office and take a tour, meet (or reconnect with) Bonnie, and learn more about Windermere Powerhouse Group. Please join us in welcoming our new Designate Broker Bonnie Burry at firstname.lastname@example.org or 208-371-7144.