New report ranks Boise No. 1 for out of state homebuyers in 2020
The report from Realtor.com says Boise will remain a top destination for those looking to relocate.
Author: KTVB Staff
Published: 9:16 PM MST December 12, 2019
Updated: 11:20 PM MST December 12, 2019
BOISE, Idaho — A new report from Realtor.com predicts Boise will be the top market for out of state homebuyers in 2020, a big jump from the city’s previous rank of No. 8.
The real estate trade group put Boise at No. 1 in its new survey, a reflection of the booming home sales market the Treasure Valley has been experiencing in recent years.
The group notes that although the national housing market is expected to cool next year, Boise’s market will continue to be fueled by its strong economy, job creation and inventory.
“The cities that we expect to do best in 2020 are not necessarily big, fancy, coastal cities, but secondary markets where the job market is still pretty good but housing is affordable,” said Danielle Hale, chief economist of realtor.com.
According to Boise Regional Realtors, home prices jumped 12.5% last month, with a median home price of nearly $360,000.
While the boom is great news for the Treasure Valley’s real estate industry and the economy in general, it also means local buyers must compete with out of state buyers.
Rounding out the top three housing markets for 2020 are McAllen, Texas, and Tucson, Arizona.