Do you have a New Year’s resolution to relocate to a new state in 2022? How can we help you make that happen, and what are my predictions for the Boise 2022 housing market? Let’s find out!
Welcome back, and happy new year!
I’m summer Aston with Summer Aston Real Estate Group with Silvercreek Realty Group and first, I want to say a huge and heartfelt thank you to all of you amazing people who trusted us in 2021 with buying or selling a home in the Boise area. We know you don’t take your decisions to move lightly, and we are humbled and honored to help you and have found incredible joy in being part of your journey. So from me, Kena, Rachel, and other agents who have helped out, – thank you thank you thank you, and we are so excited to help even more of you in 2022!
Today we are going to do a quick wrap-up of the Boise housing market for 2021, talk about how to help you plan for a visit or a move here in 2022, and I’ll go over my predictions for the new year’s housing market.
2021 Boise Housing Market
As most of you know, 2021 continued with low inventory, high demand, multiple offers, and an incredibly competitive buyer’s market – until about September when inventory came up as sellers tried to get homes on the market before winter, and demand fell as school started. We saw price drops in overpriced homes, buyers actually getting offers accepted without going over, and the anxious urgency from buyers lessened.
Did the market crash? Absolutely not.
Is it adjusting? Yes, but really, so far, not more than expected for the usual winter slow down. Now, at the end of December, inventory has dropped again, but so has demand, not only due to the holidays, but I’ll show you what else we have going on.
Snow! Beautiful snow that is wonderful for sledding and skiing and holiday break fun, but it slows down the housing market for a bit. I don’t expect the snow to stay long, and neither will the slow down, and I’ll tell you why in just a minute, but first let’s go back inside and talk about how you can plan your New Year’s resolution to find a new place to live in 2022.
Advice For Moving in 2022
Well first, keep watching for our new videos. I’m super excited for our upcoming videos this year. I’m sure you’ve noticed I don’t always get a weekly video out and that’s because 1) I want the content to be useful and not fluff just to put a video out, and 2) I’m a realtor first, our clients come first, and the videos come second. So subscribe and hit the bell so you see when new videos come out because we have some great ones in store for you, and I can promise that I won’t have a new video out every week. Maybe every other week.
I’ll have videos breaking down the major cities to smaller areas so you can get to know those areas better, I’m going to make several videos with my realtor friends that live in other cities you’ve considered moving to, and we will compare and contrast those areas with Boise so that you can narrow down your options. I’ll continue to have videos about area recreation, I’ll even make a video or two to help guide those of you coming to the area to rent, but the one I’m most excited about will help you in your planning. I’m working on a very comprehensive tour guide video that will include downloadable maps and how we will plan and individualize your visit. Watch for that to come out by the beginning of February.
We get hundreds of requests to help you on your first-time exploration visits, and we’d love to meet you all in person, but we’ve got to focus on our buying clients, and this upcoming tour video, coupled with a phone meeting to help you prepare, will be a great way to help you plan your visit. If you’re coming for a visit to either explore or buy a home in 2022, please let us know several weeks in advance so we can get it on the schedule and schedule your call to help you plan. The best way to contact us is through the contact forms on the summerastonrealestate.com website, and we’ll get you taken care of from there.
The website is a work in progress, and in 2022, we’ll be adding more informative guides to download, and the most frequently asked for information. Plus you can check out our blog posts and a home search. So we’ll do all we can to help you keep that 2022 resolution to finally make the move.
2022 Boise Housing Market Predictions
Now 2022, what will the market be like and what should you expect in the Boise housing market?
Well I don’t have a crystal ball, but I do have this magic exercise ball from New Year’s resolutions past, and my wizard party hat, so that’s about as good.
All of you reading this right now will have the courage to make tough choices to create a better life for your family, which may or may not include a move to the Boise area in 2022.
Okay, this doesn’t really work, but what does work is watching patterns in what you all are saying to us when you reach out to us. One massive advantage I have as an agent making videos is that I get to hear hundreds of your personal stories, and they are very similar. In fact I don’t have to watch the news to see what mandate the Governors to our West put in place recently. I just open my inbox, and if several of you have emailed all at once, I know a new mandate was put in place that no one liked. Now, I’m just one agent out of many in our area, but the last few weeks, I have had many of you reach out and make plans to come and buy a home in Boise this summer.
I’m not going to sugarcoat it, the number one reason people contacting us say that they’re moving here right now is due to vaccine mandates. I will tell you, it will not be mandated for schools in Idaho. In fact, Governor Little passed legislation last summer to make it illegal to mandate for schools. We will also not be seeing cards mandated here. And please understand, most people moving and living here have no problem with vaccines in general, it’s that they want to live where government has fewer mandates and they can retain some freedoms.
I’m sure you’ve seen the reports that Boise is one of the most overvalued markets in the United States. That’s possibly true if one considers only numbers as a determinant of value. Prices and value have never been synonymous. People determine what they value, and the people, you viewers, are showing through housing prices what you truly value- A safe, clean place to live where you can still retain some freedoms from mandates. How can those things be overvalued? So it is precisely due to the high value people find living in the Treasure Valley, or let’s be honest, the high value people find in leaving their current states that home prices may continue to rise in 2022.
So my predictions for 2022 are to see a continued influx of people moving here unless things drastically change in other states. Due to the school year, I think it will be slower to pick up in winter and spring than in 2021 and 2020 when everyone was schooling online. But I expect the major price increase to come in June and July this year. I don’t expect as many bidding wars or huge over asking prices due to increased inventory and due to fewer buyers who are able to afford our higher prices. I do expect more inventory for existing homes as sellers want to cash in on equity, but I expect inventory issues to continue in the new construction market due to supply chain and labor issues, and as inflation continues, I expect to see the gap between the cost of a new home and an existing home widen.
If you can purchase a home here in early 2022, you may be able to avoid the end of school year rush in June and July. Or if you can wait until fall of 2022, that may also help avoid a rush, but -keep your eye on potentially rising interest rates, and of course, we’ll keep you updated all year long.
So, are you coming? Are you ready to make good on your 2022 resolutions?
Well, at the Summer Aston Real Estate Group we are ready to help you and looking forward to hearing from you. Remember to subscribe to catch all the new videos this year, contact us through the website to ask your questions, let us know of upcoming visits well in advance, and let’s make 2022 a year we can truly celebrate!
