Welcome to the AllIdahoFallsRealEstate.com Blog

2019-08-12 16:15:23
Update From July's Market and What's Coming in Idaho Falls

We are starting to see the pressures of the market shift in several different areas; Low inventory,  Increasing home values/prices and affordability, and interest rates.

Homes are still selling and selling quickly and buyers and sellers are still experiencing multiple offer situations due to low inventory. This is continuing to drive up home prices in our area. We are currently in a seller's market, however, more and more people are becoming concerned with selling their homes because they have to buy in the same market and it has become difficult to find a new home with inventory shortages.

 New construction has exploded within the last year which is providing more options in the low inventory market and yet the builders are also having a hard time keeping up with demand. Very few of the builders, if any, have spec homes at this time and if you decide to build, folks are looking at almost six months out  to completion. The price to build a new home has also gone up considerably with in the last couple of years.

Interest rates have been holding strong and staying low which has been very helpful to borrowers in our current market. Rumors are that the FEDs will be increasing them again this year. If interest rates rise, this may help inventory increase but would come with a price of affecting the affordability of homes to buyers. It will be interesting to see how interest rates will affect our market in the upcoming year.

We are still seeing great movement in the market due to low interest rates but what will happen if interest rates rise again? Whether, folks are looking to purchase their first home, sell their home, downsize or upgrade, our current market is presenting some challenges for them and we are here to help you navigate it all so you can come out on top! 
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