With its affordable housing and natural sights, the Gem State attracted attention left, right, and center.
When the coronavirus (COVID-19) pandemic struck the U.S., the need for larger and multifunctional housing spaces marked its presence. In turn, those who wanted more square footage for workspaces or recreational activities moved from humble apartments to larger homes.
But the phenomenon wasn’t only limited to city-dwellers turning into suburban homeowners. It also included many out of state movers, who selected new territories to call home throughout the span of 2020.
Being the fastest-growing state in the country, Idaho served as a logical choice for many of these people. As a result, it received an increased level of attention from interstate movers and enjoyed significant popularity.
Idaho Welcomed 70 Percent of All Out of State Movers
According to a recent report, the Idaho housing market welcomed 70 percent of all U.S. movers in 2020. While the Gem State had been attracting people way before the pandemic, the COVID-19 outbreak boosted that phenomenon further.
As compared to West Coast states such as California, Idaho boasts of lower costs of living. But that’s not the only reason why it served as the prime moving spot for many. The lifestyle change, the ski resorts, and the lakes that the state has to offer also play a big role.
That’s why, people from states such as California, Oregon, and Washington have been flocking towards Idaho to reap these benefits. In the past year, this has also breathed new life into the Idaho real estate market.
Realtors Are Swarmed With Requests and Closings
The Idaho housing market has plenty of affordable listings that offer a change of pace as compared to other states. As a result, it garners immediate attention from families who want to switch up their lifestyle at accessible costs.
According to active realtors in Idaho, they have seen an increasing level of interest from homebuyers in the past year. In many cases, these parties belong to another state but want to move homes in search of their ideal living.
Within 2020, COVID-19 has been the biggest driver behind this idea of relocation for many families. Apart from their overall wellbeing, many movers also expressed that concern for their families or employment changes served as deciding factors. Due to these reasons, the Idaho real estate has thrived in the past few months.
Inventory Keeps Moving, But That Doesn’t Dampen Buyer Interest
Realtors who handle markets such as Coeur d’Alene have mentioned that they have noticed increased activity within the area. When a home is listed by its owner, it doesn’t take long before attracting the interest of an eventual buyer.
This fast movement of inventory isn’t limited to one city. Other popular cities such as Boise also stand out in the Idaho housing market. Since Boise is the third-most popular city for in-migration in the U.S., this doesn’t come as a surprise.
But even after chasing listings that close their sales soon after appearing on the market, buyer interest remains unchallenged. Those who have made up their mind to move to Idaho continue checking with realtors for their ideal listing.
Since Idaho maintained this status with a popular margin last year, it’s likely that it would retain it in 2021. For now, those who are interested in affordable living continue to explore the market for their dream home.