Do Boise Home Prices Warrant a Bubble Watch

Do Boise Home Prices Warrant a Bubble Watch?

selling boise house

Sooner or later people will begin to wonder if we’ve crossed the threshold dividing undervalued from overvalued homes. Home prices continue to rise throughout most of the nation. The term “overvalued” is almost synonymous with the term, “Bubble.” This term can’t help but cause the imagination to see another vision of the associated “Pop!”
People are starting to worry that we are in another home pricing bubble and that is causing many sleepless nights and also financial paralysis. As the home prices in Boise are moving higher it is only natural to worry if they are justified economically. No one wants to miss out on a good deal on a home price in Boise but no one wants to be wrong about whether or not it is a good deal either. How do you know?
Since bubbles are very hard to define, the Trulia real estate web site just came out with a new tool designed to assess whether todays home prices, – that includes those in Boise are over or undervalued. They compare the latest prices with past incomes, prices, and rents.
Residential price gain percentages can rival those from the last decades bubble, but it can be deceptive. They did however, start from a much higher price. Current gains look a lot more like they are a rebound instead of a bubble.
Trulia found that as of last month, national home prices remain undervalued by 7%. During last decade’s bubble, prices went as high as 39% overvalued. Their takeaway is that home prices remain considerably lower than they were during the last bubble.
If you are a bubble –watcher you can get excited or not but as far as this Boise agent is concerned – Trulia has given us some great news. “Rebounds” are bringing about visions of happy kids on trampolines (rebounds do not pop)!
This news is great for instilling a positive national outlook. But if you are from the Boise area and if you are looking for the latest information about Boise home prices and activity, contact me for a no-cost, no-obligation consultation.

A few homes to view that are active in the Boise market listed within the last 5 days provided by IDX/IMLS. These homes are updated daily early each morning:

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