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Idaho reported job gains in construction, professional and business services, hotels and restaurant.

Your Guide To Idaho's Housing Boom & Bust

Background

Molly Messick / StateImpact

A foreclosed home near Boise, Idaho.

This page is no longer being updated. For ongoing coverage of this topic, go to Boise State Public Radio’s website.

The Boise-metro market was hardest hit in Idaho’s housing crisis, with foreclosures concentrated in Ada and Canyon Counties.

Idaho’s housing boom was centered around its two main metropolitan areas, Boise and Coeur d’Alene.

John Starr of the global real estate company Colliers International had a front-row seat as capital poured into the local housing markets in the years preceding the bust.

When he thinks of the early 2000s, he remembers watching land prices rise with demand, and house lots shrink. What the area wound up with, he says, were more and more subdivisions, packed tight with houses.

Census data show that the state’s population grew by more than 28 percent from 1990 to 2000, and by more than 20 percent from 2000 to 2010. Starr said that’s due in large part to growth at Micron Technology. That growth, in turn, fueled Idaho’s housing boom.

“The reason we were doubling the national average growth rate was we were moving in a whole bunch of people that we couldn’t produce here in Idaho, namely electrical engineers and so forth to work at Micron.  The data points that people were looking at that were helping them make decisions about coming to Boise and deploying capital and building and helping us grow – those data points were skewed.” – John Starr, Colliers International

According to Metrostudy, a housing and data information company, Boise’s housing market began to bottom out in 2009.

Latest Posts

Home Prices In Idaho Are Up 15 Percent, New Building Permits Above Average

Construction is underway and sold signs are posted at this south east Boise subdivision.

Idaho is one of five states that saw housing prices climb by more than 12 percent from the first quarter of 2012 to the first quarter of 2013. In Idaho, home prices are up 15.1 percent over the first quarter of last year. But as the State Economic Monitor from the Tax Policy Institute points [...]

Thousands Of Foreclosed Idahoans To Split $9 Million In Mortgage Settlement Payments

This Nampa neighborhood used to be dotted with foreclosures.

The Idaho Attorney General’s office says more than 6,000 Idahoans will receive checks under the historic national mortgage settlement this month. As we reported last year, the $25 billion settlement was reached in February 2012. The borrowers who received “loan servicing errors” that may have led to foreclosures between 2008 and 2011, were eligible for [...]

In Boise, Too, Home Prices Show Quick Growth

House for sale

Single-family home prices rose by 9.3 percent in February compared to a year earlier, their fastest rate of growth in nearly seven years. That’s according to the S&P/Case-Shiller index, which is based on 20 metropolitan areas, not including Boise. Data from the Intermountain Multiple Listing Service show single-family home prices in Ada and Canyon counties [...]

Foreclosed Homeowners To Receive First Round Of Settlement Payments

Houses Surburban Neighborhood

We’ve noticed how many people are coming to this post. Would some of you like to help us with our future reporting? We’d like to talk to people in Idaho who receive settlement checks. If you receive one and you’re open to telling us about your experience, please send us an email. Idahoans who lost [...]

Low Inventory Continues To Drive Up Treasure Valley Home Prices

Sold Home

Spring marks the start of the busy season for home-buying and selling. In the Treasure Valley, the housing market mirrors national trends. The story is one of few homes for sale, and high demand. Mike Turner, an agent with Front Street Brokers in Boise, will tell you: the local housing market was competitive last spring, and [...]

How Investor-Buyers Shaped One Boise Housing Development Hit Hard In The Downturn

A "For Rent" sign stood in front of a home in Charter Pointe last week.

It’s clear that residential real estate investors played a role in the boom and bust in Idaho’s housing market. Realtors tell stories of receiving call after call from out-of-state speculators attracted by Idaho’s high growth rate and low cost of housing. Yesterday, we reported on a southwest Boise subdivision called Charter Pointe that’s still reeling [...]

Boise’s Housing Bust Leaves Unlikely Victims In A Neighborhood That Saw The Worst

Ryan, Scott and Tara Arellano, at home in their kitchen

Homeowners, credit intact, still making their monthly mortgage payments.  They’re not who we think of first when we think of the damage brought on by the housing crisis. But in a sprawling, master-planned southwest Boise subdivision called Charter Pointe, they’re a group that has struggled. More than most cities, Boise felt the brunt of the [...]

Why Idaho’s Fast Foreclosure Process Pays Off For The State’s Housing Market

Housing markets show more signs of revival in states like Idaho, where homes move through foreclosure quickly.

This morning, NPR’s Morning Edition took a look at Florida’s slowest-in-the-nation foreclosure process. The state’s foreclosure rate recently surpassed Nevada’s to become the highest in the country. Many say Florida’s long legal process is to blame. In Idaho, by contrast, the foreclosure process is unusually short. That’s according to RealtyTrac vice president Daren Blomquist. He [...]

“Worst Place To Buy” Ranking Is Fine News For Boise Homeowners

House for sale

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 [...]

Idaho’s Foreclosure Rate Continues To Fall

RealtyTrac Heat Map

2012 was a good year, comparatively, for Idaho’s housing market. RealtyTrac’s year-end foreclosure report was released this morning, and it shows Idaho’s foreclosure rate and rank among states continue to drop. The Gem State now ranks 14th, bumping Idaho out of the top 10 in the annual ranking for the first time in years. 

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