Boise, Idaho

Declining sale prices show that Boise may be heading for a bust, Winzer says. It’s one of Local Market Monitor’s overpriced cities, with average prices 17 percent higher than equilibrium. Employment growth also is dropping below 1 percent according to Winzer’s data.
Median price end of 2007: $198,000
Median price end of 2006: $209,500
% change: – 5.5 %
Projected change through Q3 2008: – 11.1 %
Affordability rating: 5.2
Foreclosures in 2007:
(1 for every 99 households)
2,206
Foreclosures in 2006:
(1 for every 158 households)
1,395
Change in foreclosures: + 58.1%
Current rate comparison
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Price trends

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June ’06: National median price $227,100
Dec. ’06: National median price $221,900
Dec. ’06: Local median price $209,500
June ’07: National median price $229,200
Dec. ’07: National median price $198,700
Dec. ’07: Local median price $198,000
* Median prices for existing single-family homes