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Growth and recovery are often slow moving. It doesn't always go up in a straight path, either. There are many times when the path will be a little bumpy with a lot of ups and down along the way.
This has definitely been the case with real estate recovery. It hasn't been a nice, clean upward path of recovery. On the contrary, there have been quite a few zigzags throughout the past year.
Boise real estate prices have risen and fallen throughout 2010. For the most part the prices grew and increased. However, there were some decreases along the way, such as a decrease in prices in December 2010 and January 2011.
But even with these dips there is no cause for panic. It wasn't a big surprise to have a dip in real estate prices. An increase in home prices has already started climbing again according to last month, February 2011 statistics.
Small ups and downs in markets are actually a good indication. Obviously, the more ups than there are downs the more profitable it is for people selling their homes. But a decrease in home price is also beneficial for those buying.
You should also look in to real estate conditions with more than just the home prices. Home prices are important, yes, but so is the number of distressed homes on the market. If there are a lot of distressed and foreclosed homes this doesn't reflect well on the market.
There are still many foreclosures and distressed homes on the market. However, the forecast for 2011 still is that home prices will continue to rise and market will continue to increase. This slight rise affects both the economy and real estate prices.
There has been a continued rate of economic growth and a steadiness with retail sales and low interest rates.
This has definitely been the case with real estate recovery. It hasn't been a nice, clean upward path of recovery. On the contrary, there have been quite a few zigzags throughout the past year.
Boise real estate prices have risen and fallen throughout 2010. For the most part the prices grew and increased. However, there were some decreases along the way, such as a decrease in prices in December 2010 and January 2011.
But even with these dips there is no cause for panic. It wasn't a big surprise to have a dip in real estate prices. An increase in home prices has already started climbing again according to last month, February 2011 statistics.
Small ups and downs in markets are actually a good indication. Obviously, the more ups than there are downs the more profitable it is for people selling their homes. But a decrease in home price is also beneficial for those buying.
You should also look in to real estate conditions with more than just the home prices. Home prices are important, yes, but so is the number of distressed homes on the market. If there are a lot of distressed and foreclosed homes this doesn't reflect well on the market.
There are still many foreclosures and distressed homes on the market. However, the forecast for 2011 still is that home prices will continue to rise and market will continue to increase. This slight rise affects both the economy and real estate prices.
There has been a continued rate of economic growth and a steadiness with retail sales and low interest rates.
About the Author:
To learn more about the Boise real estate market, contact The HELP Program, a real estate agency specializing in buying and selling Boise homes.
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