The media loves to quote the Case-Shiller Index, which measures home prices in 20 major U.S. cities.
That has always annoyed me because the Case-Shiller Index does not include the Boise real estate market and is, therefore, largely irrelevant when it comes to the health of our local real estate market.
What’s happening in Detroit, Atlanta, Miami, etc. has little, if any, bearing on the Boise real estate market.
That said, the Case-Shiller Index is reporting that year-over-year home prices rose 6.9% during the second quarter of 2012.
In comparison, Intermountain MLS data indicates that Boise (Ada County) year-over-year median home prices rose 13.7% ($141,957 vs. $161,450) during the same time period.
It’s nice to live in one the fastest recovering real estate markets in the country!
Data pertains to Ada County single-family homes on lot or acreage. Data does not include condo or townhome properties.
Source: DSNews.com article
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