Idaho Housing Forecast for 2022

June 27, 2019
Last updated:
January 18, 2022
In This Article

The real estate market in Idaho is very hot right now, largely as a result of tight inventory and skyrocketing home prices over recent months. The same situation is expected to continue into 2022. Certain centers, in particular, are expected to be even hotter than the state-wide average, including in Boise. Homebuyers looking to buy a home in Idaho will want to get in fast before prices really start to take off, as well as to take advantage of extremely low mortgage interest rates.

housing market forecast idaho 2022

Home Prices Are Up

According to Zillow, home sale prices jumped in 2021 by 35.4%.

Tight Inventory in Boise

According to the Boise Area Realtors, home inventory is tight in Boise. Right now, there is a 0.5-month supply of homes in the city and surrounding areas.

Low Inventory in Ada County

Ada County has a low 1.7-month supply of available homes for sale.

Homes Sold Have Dipped

Year-over-year, 937 homes were sold, which is 11.9% lower than the same time last year.

Home Prices in Boise Have Skyrocketed

The median sales price for a typical house in Idaho as of December 2021 is $447,197.

Ada and Canyon Counties Hit Average Home Price Records

Both Ada and Canyon Counties have seen record-breaking months in 2021. Ada County’s median home sales price increased 37.1% over the past year, while in Canyon County, prices increased 43.4%.

Current Rates Are Historically Low

Current rates in Idaho are 3.12% for a 30-year fixed, 2.34% for a 15-year fixed, and 2.45% for a 5/1 adjustable-rate mortgage (ARM), according to Freddie Mac.

Boise to Continue to Be Healthy in 2022

Boise is still expected to be one of the hottest real estate markets in the country in 2022. This is largely due to the increase in population as an increasing number of people continue to flock to Boise from more expensive markets. They are not only drawn to the affordable prices, but also the mild climate, employment opportunities, and great outdoor lifestyle. Home prices in Boise currently sit at $519,081.

Days on the Market

In Boise, listings go pending in about 17 days after being put on the market.

Homes Sell Over Asking

The average home sells for 1% below the listing price in the city of Boise.

Live Idaho Mortgage Rates

Ready to Apply For a Mortgage in Idaho?

If you’re curious about mortgages in Idaho, Sammamish Mortgage can help. We are a local mortgage company based out of Bellevue, Washington that serves the entire state, as well as Oregon, Idaho, and Colorado since 1991. Our mortgage professionals can work with you to help you decide which one of our mortgage programs is right for you. Contact us today with any questions you have about home loans in Idaho.

Get an Instant Mortgage Rate Quote Today

Other Blogs You May Like
Should I Sell My Current Home Before or After I Buy a New Home?
January 6, 2022
4 min read
Should I Sell My Current Home Before or After I Buy a New Home?
Should I sell my current home first? Or, should I buy, then sell?
Here’s What Happens After You Apply For A Mortgage Refinance
January 6, 2022
6 min read
Here’s What Happens After You Apply For A Mortgage Refinance
Mortgages take more time today than they did just a few years ago. Some of the recent rules and...
Show 39 more posts
from this category

Connect with America’s Lending Experts today!

Whether you’re buying a home or ready to refinance, our professionals can help.