Boise (670 KBOI News) – 12.5%…that’s how much Ada County home prices are up over this time last year.
That’s according to Boise Regional Realtors…president Phil Mount says prices of new construction and existing homes rose considerably between May of 2018 and last month.
“With a shortage of homes, a restricted inventory, prices go up,” said Mount. “We’re now reaching a new record, $342,990 is our median sale price in May of this year, and that was up 12.5% over the same time last year.”
Mount says even with all the construction going on right now, it’s not nearly enough to keep pace with demand.
He says the building industry is still dealing with the after effects of the recession, when many skilled tradesmen left the industry.