I predicted at the tail end of last year that 2012 was going to be Boise’s year to see a big median home price jump, and the activity we had in March appears to be affirming that prediction. Median home price is not the same as home appreciation, but it is a major step in moving us toward that direction.
With the supply of under $100,000 homes (largely foreclosures) rapidly shrinking, the median home price in Boise hopped up 11% in March alone. That could mean we end this year in double digit home price increases and will certainly keep us in the national spotlight of real estate recovery.
Here’s a short video and chart highlighting the March median home price jump: