Business Insider

Rising prices, sales reflect Treasure Valley housing market’s heat

A for-sale sign at a CBH home in Kuna. There are still some homes priced under $200,000 out there.
A for-sale sign at a CBH home in Kuna. There are still some homes priced under $200,000 out there. kjones@idahostatesman.com

Mike Turner, owner of Front Street Brokers in Boise, says home sales now far exceed his expectations.

“Holy cow, it’s just unbelievable,” Turner says. “When inventory is low, it makes things feverish. People take action to buy quicker.”

Turner says a combination of factors could be pushing sales, including an improving job market, a sunny spring and a growing pool of buyers looking to relocate to join friends and family already living in the Valley.

Perhaps the greatest factor, Turner says, is a growing number of “boomerang buyers,” meaning Treasure Valley residents who lost homes during the recession that have finally repaired their credit and are again buying homes.

“You can’t account for these kind of sales numbers by saying ‘It’s the weather,’” Turner says. “I think it’s the boomerang buyers.”

This story appears in the April 20-May 17, 2016, edition of the Idaho Statesman’s Business Insider magazine as part of a special section on residential real estate.

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