Housing bust or first to adjust? What’s actually happening in Boise, Idaho

Source: Deseret News — 

At the height of the pandemic housing frenzy, Boise was not just discovered. It was flooded with buyers.

That’s when housing market hawks first locked on to the Idaho metro for its eye-popping price increases. Since then, fascination with Boise has persisted — but now as the U.S. housing market has tipped into recession territory amid higher mortgage rates, some days hovering near 7%, there’s a new obsession with Boise.

It was first to the party. Now, as sales stall, inventory levels explode and prices begin to taper, Boise appears to be among the first to the hangover.

So what’s happening in Boise, and what’s in store for the western metro now that the U.S. housing market has shifted?