Why Should You Invest in Boise in 2022?
It was only a few weeks back when we wrote about Boise being one of the hottest real estate markets in the U.S. in 2021, so it’s no surprise the title is carrying on into 2022. Another data list was recently released to share the hottest U.S. cities for buying and selling homes in 2022. Boise ranked #2, and we’re about to share why and why you should invest in Boise!
Invest in the Expected Growth
The researching company combined forecasted sales and price growth to find Boise’s percentage. It’s almost 13% 8% in sales and price growth that is expected for 2022. Sales and price isn’t the only growth Boise is expected to see next year. Data from the U.S. Census confirmed Idaho is the second-fastest growing state, and Boise is the center of the activity.
Invest in the Median Sales Price
The median sales price in Boise has increased in Ada County since the pandemic. The median sales price moved over the $400,000-range for the first time in August of 2020. Last August was also when 40% of homes sold over list price. In May of 2021, 65% of homes sold for over the $400,000 range, and the price exceeded the $500,000 mark.
Hottest Housing Market in the U.S
In our past blog , Boise ranked number one due to the large increases in six-month pricing, one-year pricing, and five-year pricing. Another report found that Boise is a popular location for out-of-state buyers as 73% of Redfin users search for homes in Boise while currently living outside of its metro area.
Another study found that out-of-town homebuyers moving to Boise spend more on average homes. Homebuyers paid an average of 2% above the asking price during the pandemic while locals paid 0.2% below the asking price. This is a difference of over $10,000 as migrants moving to Boise paid $448,000 versus $439,250 by locals. It also found that migrants have a larger median down payment compared to locals.
Why Boise for 2022?
All this data isn’t a massive surprise since Boise is constantly praised for its affordability, strong job market, and great cultural scene. It also has a low unemployment rate of just 3%. Plus, the Boise area is popular and appealing to investors, landlords , and homeowners due to the landlord-friendly laws , low property taxes, low cost, and increased job growth.
If you’re ready to own property in our wonderful city or take advantage of the investment opportunities in Boise next year, contact us ! Call (208) 957-0870 or email Info@BoiseTurnkey.com. We’d be happy to start and guide you through your Boise investing journey.
