Boise Real Estate Blog

Ada & Canyon County Market Trends for 1/15/11

 

Residential Real Estate Outlook

With falling inventory levels, 2011 looks to be a much better year for the Real Estate Industry and buyers and sellers.  The home inventory in Ada County fell by over 1,000 homes in 2010, ending the year with just over 3,600 available to purchase.  Prices fell in 2010, but not like they did in the previous two year when we saw over a 15% decline in values. 

Last years decline was a little less than half of the previous year at 7.4%.  We think we have finally hit the bottom for declining values.  The next hurdle will be interest rates.  With the economy struggling to gather momentum, government spending at an all time high and now perhaps gridlock in congress we could be in for a rise in rates.

Will 2011 be the year to see recovery in the residential real esate market?  Read what the experts at the National Assoication or Realtors has to say.

Residential Real Estate Outlook