Here’s what you should know about home price appreciation here in Boise.


Home prices have been skyrocketing in 2021, but what’s going to happen in 2022? We all know that one of the major storylines of this year has been the strength of the residential real estate market. Home price appreciation is one metric that’s firmly in the spotlight these days. We’ve seen increases across every price point. According to the latest data from CoreLogic, each price range is seeing at least a 19% year-over-year increase. In fact, every region in the country is experiencing at least a 14% year-over-year increase. Idaho is in the high end of that range.


These numbers are great for today’s home sellers, but what do they mean for the market in 2022? Inventory is starting to pick up, but CoreLogic predicts that there will still be an inventory shortage in 2022. Most forecasts are calling for appreciation to moderate in next year. The Home Price Expectation Survey is calling for a 5.12% rate of appreciation next year. That’s quite a drop from what we’ve seen this year, but it’s an increase nonetheless. Even though the market might slow a bit in 2022, it’s still going to be a great year of real estate and a great year for home appreciation.


If you are thinking about buying or selling, you might consider doing so now as prices and rates are predicted to increase. If you have any questions for me about the market or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.