Forbes top 25 weakest housing markets (Boise: homes, to buy, stats)

[lisarenate]

I was surprised to see that Boise is on the list:

America's 25 Weakest Housing Markets - Forbes.com (http://www.forbes.com/lifestyle/2009/01/07/housing-cities-realestate-forbeslife-cx_do_0107realestateweak.html - broken link)

[Syringaloid]

Several fast growing Western cities are on the list and a lot of these cities including Boise were in Forbes strongest housing markets lists a year ago, two years ago, etc.

The percentage of correction and the dates inlcuded in the article are all speculation because stats locally or in any of the other Western cities could change by the end of this year. And the percentage is not reflective and accurate for the entire city because the whole metro is taken into account in their ranking which includes all of the homes in Canyon County. From what I have been told values near downtown Boise have not been affected very much by the slowdown.

But it isn't all bad news because many more people can afford to buy a home than a year or two ago. If a person is not in the market to sell then this is not alarming news at all.

[boi2socal]

Well, almost all these cities are "flight" cities. Basically, things won't change till people start selling in California. Also, LA and area have already lost a great deal of value, Boise and other cities are just now getting hit all the while LA and OC continue their dive. Boise is still relatively small so all it takes is some good news (a large company coming in) to stabilize the market, at the same time bad news will be very bad.