Boise real estate market sees slight uptick amid high rental prices and shrinking inventory

July 12, 2023

By CBS2 News Staff

BOISE, Idaho — The Boise Regional Realtors have released the June market report for Ada County. Numbers are trending slightly upward compared to previous months this year, however they remain drastically cut from this time a year ago.

Affordability is overshadowed by supply versus demand. One factor that may be contributing to the growth in the short term is that rental prices remain sky-high, driving some to look for alternatives in the housing market. The average rent for a 2 bedroom in Boise is $1,768.00 a month according to Rent.com.

Mortgage applications have been up for three consecutive weeks, while shrinking inventory may be driving prices higher. While there are 811 existing/resale home on the market and 552 new construction builds, according to BRR, this four month increase is still a staggering 36.2% less than June 2022. See More.

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