Amid critical housing shortages and record demand, bidding wars continue to drive up Boise area home prices.
Treasure Valley homebuyers in the 1980s had more housing stock to choose from than buyers today, thanks to the unprecedented shortage of listed homes we are currently experiencing. As a result, homebuyers can end up facing a gauntlet: bidding wars, forfeiting basic protections to make their offer more attractive, and paying record-high prices in order to land a home.
How did we get here? A few primary factors spring to mind: the Treasure Valley’s decades-long population boom, coupled with the fact that new construction has lagged behind demand for at least the past seven years in the valley.
Those factors are predictable (and were…