Compared to other parts of the country, Boise’s real estate inventory is low. Houses are going under contract fairly quickly and there are times when my buyers are faced with competing offers on a home. The chart below confirms what we already know…Boise’s REO inventory is dwindling. According to Realtytrac.com, Boise has the second lowest REO inventory in the country. Factors that may contribute include that our Boise‘s economy is not as depressed as other cities around the country, as well as the time has increased to complete a foreclosure, which essentially slows down the process.
As you can see from the chart, Boise has less than a four month supply of REO properties. Not bad, compared to cities like Boston, MA (133 month supply) and Birmingham, AL (100 month supply)!