Housing data provider RealtyTrac is out with new numbers that show Boise is one of the worst places to buy a foreclosure. That’s not a bad thing.
“Certainly from the perspective of homeowners in that market, it’s a good thing to be on that worst list,” says RealtyTrac vice president Daren Blomquist. “Really what that means is there’s not a big backlog of foreclosure inventory that needs to be sold in that market.”
The ranking is based on a handful of factors in addition to how many foreclosures are available for sale. It looks at the discounts available on foreclosed homes, and how much local foreclosure activity increased or decreased over the last year.
What all of those numbers show is this: After getting hit hard in the housing crisis, Boise is doing fairly well. It still has a higher than average foreclosure rate, but its number of foreclosures fell by more than 27 percent from 2011 to 2012. Demand is strong.
Boise may be a bad place to buy a foreclosure, but it’s becoming a better place to own a home.