What’s happening in the Real Estate Market?
Residential Listings 4/14/2020
1258 Active —- 914 pending that means only 344 homes available
Vacant Land
1515 Active — 153 pending = 1362 active
Sold Data from 4/14/19 to 4/14/20
Residential 5247 ==== 437 per month
Drop by 20% equals 4197.6 ===350 / month….
WE only have one month supply of housing available!!!
Vacant Land – 1485 === 124/month
Currently 153 pending… may need more land listings; but could drop to 99/month if 20% of the market goes away.
For everyone who claims an Idaho residence as your primary residence…..H.562 which removes the April 15 filing deadline for the homeowner’s exemption was signed into law by Governor Little on March 24, 2020 and will take effect on January 1, 2021. This means if anyone purchases a home (a rental or a property that doesn’t have the homeowner’s exemption currently) after April 15, they will be able to apply and receive the exemption any time of year if they are occupying the home as their primary residence, saving them thousands in property taxes and helping them to qualify for a loan. This is especially important for younger or first-time homebuyers!
Please call me with any concerns/questions about our current Real Estate Market!
Be safe and healthy. Many blessings to you!