Idaho home value performance
Second only to Arizona, home sale prices increased 10% from July of 2011 to July of 2012 in Idaho. When excluding distressed sales, Idaho home values rose 4.7%. This 5.3% spread is likely explained by banks getting smarter and allowing for the bidding wars we’ve been seeing on properties in high demand. As fair competition has mostly been restored on these distressed sales, it’s natural to start seeing prices more closely resemble fair market values. In the past, many banks would simply take the first offer and wouldn’t even look at any others, which allowed for a lot of large equity stakes and higher than usual CAP rates to be instantly had by investors.
With the average national increase for the same period at 3.8%, Idaho’s market is recovering at an excellent rate. Rents in Boise, Meridian, Eagle, and Kuna are on the rise, vacancy rates favor the landlord, and interest rates are still at record lows, making now an excellent time to optimize the performance of your investment property portfolio.
Full CoreLogic Home Prices Report
