CEO’s, GSE’s, CDS’s, CDO’s-All financial terms that I know for certain that I am not the only one tired of hearing about. How about some good news for once?! Oh wait, there goes my readers. Listen, since I don’t make a living peddling fear, how about some news that I can promise you won’t be in the local headlines: Boise Real Estate Market Sales are UP 32%!
Shhh, don’t tell the Statesman, they may have to report it. No, seriously, 32%! That’s good right? Of course it is, but don’t get too wound up, I don’t think we are out of the woods on this current Boise Market yet. Consumer confidence is pretty fouled up right now and is a major player as a factor that affects our local Boise market.
While the good news certainly doesn’t re-hire 1,100 Micron employees, it does help chew up a little of the pent up inventory that we’ve had, especially in new construction. With still record low interest rates bouncing around the 5.75 to 6.5 range, improving prices and the passage of the Housing and Economic Recovery Act of 2008, I think we may have found the reason for the upswing.
I’m skeptical of people who might say they can predict the market for the coming months, but I do see an obvious trend of increasing home sales in Boise over the past year and with interest rates remaining low and joblessness still below national numbers, I think that the Boise Market will have a little more spring in it’s step in the first quarter of next year.
In any case, spending money on rent in general is still pretty wasteful.
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