From 2018 to 2023, Idaho's housing market saw rapid price increases, doubling median home values and outpacing income growth, making it one of the least affordable states. The pandemic-driven demand and low mortgage rates fueled bidding wars, favoring cash-rich and out-of-state buyers. First-time buyers struggled, often turning to townhouses or manufactured homes. Regional price surges affected Boise, Coeur d’Alene, and Twin Falls, with affordability challenges statewide despite a market cooldown by 2023.
Continue to full article
