Nevada, Idaho See Double-Digit Rise in Home Prices

According to CoreLogic, Nevada’s single-family home prices rose the most in the U.S. from January 2013 to January 2014, with a 22.2% increase. Idaho was in 9th place nationally with home values gaining 11.1% year-over-year, while Boise home prices rose 12.2%. The national average was 12%.

These increases reflect the strengthening of the residential market across the U.S. and in major MSAs. In Idaho’s Ada County, 2,534 new residential units were added to the property tax roll in 2013 and 1,997 were added in 2012.

As housing markets continue to heat up even as interest rates are poised to rise, the resulting higher home prices and mortgage payments could benefit the apartment market as some would-be home-buyers stay on the sidelines.

Read more at Idaho Statesman