Forbes’ list of the hottest housing markets right now follows a pattern. By comparing yearly changes in inventory, days on market, and home prices, along with reviewing current list prices, inventory, and days on market from Zillow and Redfin, Forbes identified 15 of the hottest markets now. Out west and east, there are several popular markets, but a pattern found in vacation spots emerged. The coolest housing markets are heavily centered on vacation spots such as cities in Florida, Hawaii, and Nevada, according to Forbes. The hottest markets, on the other hand, are Boise, Ida., Provo, UT., and Ogden, UT.
The Boise metro area housing market has been hot for some time, but it’s gotten even hotter in 2020. Part of the surge in interest in the Boise market this year is being fueled notably by Californians looking for more affordable homes and more room, especially amid the Covid-19 pandemic, according to KTVB7.
The median list price for a home in the Boise area was around $350,000 back in September 2018. By the end of September 2020, the new median home price had surged to just under $430,000, an increase of more than 20% in only two years. What’s even crazier, Boise’s supply of available homes for sale has gone into freefall. In September 2018, the Boise metro area had a total of 3,447 homes for sale. Two years later, at the end of September 2020, that amount hit a record low of only 462 homes available for sale — equal to a decline of 86.6% in Boise’s housing inventory.