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.

 

ECONOMIC OVERVIEW

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.

 

HOME SALES

  • 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.

 

HOME PRICES

  • 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…..

 

    

Posted on August 14, 2019 at 3:48 pm
Windermere Powerhouse Group | Category: Market News, Real Estate Trends | Tagged , , , , , , , ,

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 burrbs@windermere.com or 208-371-7144.

Check out Designated Broker Bonnie Burry’s full bio here or visit our office at 621 S 17th Street, Boise, ID 83702. Keep up with Boise’s real estate market trends and follow us on  Facebook.  

Posted on August 6, 2019 at 3:56 pm
Windermere Powerhouse Group | Category: Careers, Market News, Real Estate Trends | Tagged , , , , ,

May 2019 Treasure Valley Market Statistics

Today is Windermere Community Service Day. Staff and agents in Windermere offices across the country are spending the day volunteering in their communities and we’ve been at Whitney Elementary…..but more on that later! We still wanted to  post our monthly real estate statistics for Ada and Canyon County. In this real estate market with limited inventory, there are challenges and opportunities for buyers and sellers. Windermere Powerhouse Group agents are experts here to assist you with strategies to reach your real estate goals. Contact us if you’re interested in learning more.

 

 

 

For detailed information on Ada and Canyon County Existing and New Construction check out the reports below. 

Ada County Existing Homes May

Ada County New Construction May

Canyon County Existing Homes May

Canyon County New Construction May

Posted on June 7, 2019 at 3:29 pm
Windermere Powerhouse Group | Category: Market News, Real Estate Trends | Tagged , ,

Economic Update for Idaho Real Estate Market

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 your Windermere agent.

ECONOMIC OVERVIEW 

Job growth in Idaho continues to moderate. The state added 19,400 new jobs over the past 12 months, representing an annual growth rate of 2.7%. That said,  the growth rate remains well above the national average of 1.7%. In March, Idaho’s unemployment rate was 2.9%, matching the level seen a year ago. The state remains at full employment, and it’s worth noting that the employment rate remained below 3% even as the labor force rose by 2%. This suggests the economy remains very strong as there are still job openings to accommodate new workers. Idaho continues to outperform the nation in terms of economic vitality and will continue to do so for the balance of the year.

HOME SALES

  • 4,440 homes were sold during the first quarter of 2019, representing a drop of 4.3% compared to the first quarter of 2018.
  • In Northern Idaho, Shoshone County was alone in experiencing sales growth, with an increase of 12% over the first quarter of 2018. There was a substantial drop of more than 15% in Bonner County, but this is a small area, making it prone to significant swings. In Southern Idaho, we saw modest sales growth in Payette County, modest declines in Canyon and Ada counties, and significantly lower sales in the small area of Boise County.
  • Year-over-year sales growth was positive in just one Northern Idaho market, and only one of the Southern Idaho markets saw sales rise relative to the same period a year ago.
  • When compared to the first quarter of 2018, the number of homes for sale was lower across the board in Northern Idaho and in most Southern Idaho market areas. It’s likely that this contributed to the decline in sales.

Continue Reading

    

Posted on May 21, 2019 at 11:30 am
Windermere Powerhouse Group | Category: Market News, Real Estate Trends | Tagged , , , ,

The Idaho Economic Report by Matthew Gardner

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. 

ECONOMIC OVERVIEW

Job growth in Idaho slowed in the fall of 2018 but the state added 13,200 new jobs over the past 12 months, representing an annual growth rate of 1.8%.

In November, the state unemployment rate was 2.6%, down from 3% a year ago. The state remains at full employment, which explains why we are seeing a slowdown in employment growth. I fully anticipate that the state will return to above-average growth in 2019 and continue its trend of adding jobs at well above the national pace.

HOME SALES ACTIVITY

  • 5,308 homes were sold during the fourth quarter of 2018, representing a drop of 3% compared to the final quarter of 2017.  Continue reading…
Posted on February 7, 2019 at 9:41 pm
Windermere Powerhouse Group | Category: Real Estate Trends | Tagged , , ,