Idaho leads country with amount of people moving into the state
Idaho — The year 2020 was the year of the move—from March to October more than 8.9 million people moved in the United States. That’s an increase of nearly 94,000 compared to the same time the previous year, and many of those families moved to Idaho.
Realtors say they’ve never seen anything like it, where inventory is so low and demand is so high.
If you are looking for a home in Coeur d’Alene, as of Tuesday morning, there were 239 options. The Coeur d’Alene Realtors Association say that’s probably an all-time low. Over the last couple of years, the number of homes for sale in Coeur d’Alene has continued to drop. Last year just more than 7,000 homes hit the market. Those homes are selling as quick as ever, many with multiple offers. In 2016, it took about 111 days to sell your home, in 2020 that number dropped to 97.
The moving company Atlas says more people moved into Idaho than any other state. Realtors say the reason could vary from politics, to weather and tax incentives. The pandemic only accelerated the move for people as they could now work from home and live where they wanted to.
“I would have to think we will eventually get back to our normal growth pattern and not this accelerated growth pattern, and I think it is naturally slowing down a bit because of our lack of inventory and because our build times are getting longer and longer,” said Kristen Johnson, president of the Coeur d’Alene Association of Realtors.
The lack of inventory is also staggering. At year’s end in 2016, there were more than 1,500 homes for sale. Four years later that number was only 238. The price tags have naturally gone up in the city, as well. There are only five homes on the market that are priced at or below $350,000.
“It’s getting very hard for our locals to purchase as the prices keep increasing so we have a real need for that,” said Johnson.
Another sale that is also increasing at this time is land. There have been people from out of state buying up plots of land with the intention of moving to the area in a few years from now.
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