![]() “Everyone I’ve worked with in coming into Idaho has similar values to the other people living here,” he said. Scherer doesn’t buy into the hype that Idaho will turn into another version of California. States like Washington, Oregon and Montana are seeing equal numbers coming and going. ![]() “About 21,000 people moved to Idaho from California this year, while only about 5,000 Idahoans moved to California,” Scherer said. He noted that more people are moving here from California than Idahoans are moving to other states. “This will allow the market to return to a normal appreciation rate,” Scherer said. The new inventory will relax the used-inventory market by allowing locals wishing to upgrade, downsize or move to a different style of home or a new neighborhood to put their homes on the market. “It will take new construction catching up and increasing inventory,” he said. The biggest factor driving up real estate prices was lack of availability, Scherer said. ![]() “Buyers will start seeing that they have more choices,” he said. Scherer believes the market is finally on the verge of equilibrium. That's more than triple the number of listed homes in January.Īnne Anderson, a broker with Lakeshore Realty since 1987, said this run-up on real estate is “totally unlike anything we’ve ever seen.”Īs a witness to the 2008 housing market crash, Anderson said in that case, the market increased then “quickly dropped off.” This time around, she believes the current market “is going to remain the status quo.”Īs an agent with Professional Realty Services since 2017, and experience flipping real estate that dates back to 2005, Kevin Scherer also has witnessed the market’s ups and downs. 9, there were over 1,200 local MLS listings. Marilee Wallace with Tomlinson Sotheby's International Realty in Coeur d'Alene.ĬOEUR d’ALENE - The wild real estate market ride in Kootenai County might be calming down.Īs of Sept. ![]()
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