While Idaho's housing market sustains, experts predict teleworkers could soon flood into the Gem State

While Idaho's housing market sustains, experts predict teleworkers could soon flood into the Gem State

While housing markets in cities like Seattle crater under the pandemic, the same can’t be said about Boise — despite a burgeoning affordable housing crisis.

HOUSING MARKET...APPEARS TO BEWEATHERING THISDOWNTURN WELL.OUR NEWROOM ISCOMMITTED TOBRINGING YOUCRUCIAL COVERAGEOF THECORONAVIRUSPANDEMIC... IT'SIMPACT ON OURCOMMUNITY... ANDINFORMATION TOHELP YOU AND YOURFAMILY BOUNCEBACK.IT'S THE FOCUS OFOUR REBOUND IDAHOSERIES.TONIGHT... AS OTHERCITIES WATCH THEIRHOME PRICES SINK...THE CITY OF TREES...APPEARS TOALREADY BE BACK ONTHE UPSWING..OUR MADELINEWHITE..

LEADS OURREBOUNDREPORTING EFFORT.SHE KICKS OFF OURCOVERAGETONIGHT... WITHMORE... ON HOWCHANGES DURINGTHE PANDEMIC...COULD ACTUALLYDRIVE UP DEMAND...HERE IN THETREASURE VALLEY.AND ASTELEWORKINGBECOMES THE NEWNORM FOR MANY U-SCOMPANIES.

LIKE ITOR NOT.

HE SAYSTHE CITY OF TREE'SHOUSING MARKETCOULD BE HOTTERTHAN EVER.

DURINGTHE PANDEMIC.CORONAVIRUS HITTHE NATION'SHOUSING MARKETHARD."THERE'S CERTAINMARKETS WHEREWHERE I WOULD BE ALITTLE NERVOUS IF IWAS AN AGENT INTHOSE MARKETS."CNBC REPORTSSALES OF EXISTINGHOMES FELL MORETHAN 17% FROM THEYEAR BEFORE ANDTHEY FELL THEMOST IN OUR WESTREGION OF THECOUNTRY.

BUT MATTSAYS IDAHO'SCAPITOL CAME AWAYRELATIVELYUNSCATHED."FOR LIKE TWOWEEKS THE MARKETKIND OF SLOWEDDOWN.""BUT BOISE'SDEFINITELY YA KNOWONE OF THE HOTTESTMARKETS IN THECOUNTRY.""AND I KNOW THOSEOF YOU AT HOMEDON'T NEEDANOTHER SURVEY TOTELL YOU THIS.

BUTLAST YEAR IDAHOWAS THE FASTESTGROWING STATE INTHE NATIONAGAIN.""WE HAVE REALLYLOW UNEMPLOYMENTHISTORICALLY, WEHAVE FOUR SEASONSOF CLIMATE,OUTDOORS, GREATQUALITY OF LIFE,GOOD SCHOOLS, UM,A LOT OF THINGSTHAT PEOPLE AREGOING TO CONTINUETO GRAVITATETOWARDS FOR THENEXT YA KNOW 5, 10,15, 20 YEARS."SO WITH MANY WESTCOAST TECHCOMPANIES (ONSCREEN: LIKEAMAZON.MICROSOFT.

ANDFACEBOOK) LETTINGTHEIR EMPLOYEESWORK FROM HOMETHIS YEAR.

WHAT'SHOLDING THEM BACKFROM PICKING UPAND MOVING HERE?AS INMAN REPORTS.GLENN KELMAN, THECEO OF REDFIN.

ASEATTLE-BASED REALESTATE COMPANY.SAYS CITIES THATARE LIKELY TO SEEAN INFLUX OFPEOPLE MOVING TOBOISE IDAHO ANDBOZEMAN MONTANAAS MORE ANDMORE WORKERSOPERATEREMOTELY..

(ONSCREEN:"MOREPEOPLE WILL LEAVESAN FRANCISCO,NEW YORK AND EVENSEATTLE, SOME FORNEARBY TOWNS.OTHERS FOR ACOMPLETELYREMOTE LIFE INCHARLESTON, BOISE,BOZEMAN ORMADISON.")BUT WITH ANALREADY LIMITEDSUPPLY OFHOUSING"BETWEEN 2009 AND2014 WE DIDN'T BUILDENOUGH HOMES."MATT SAYS TOPROTECT THEWELFARE OF OURRESIDENTS IT'LL BEIMPERATIVE THATIDAHO HAS MOREHOUSING.

TO MEETTHIS DEMAND."IF WE CAN'T GETMORE HOMES BUILTAND MOREINVENTORY OUTTHERE AND MORESELLERS WILLING TOLIST THEIR HOUSE IMEAN IT'S GONNA BEA HUGE TRAFFIC JAMOF MORE BUYERSTHAN WE HAVEINVENTORY."THIS THREATENINGSPIKES IN RENTCOSTS AND HOMEPRICES.

THAT'S WHYMATT SAYS THE BESTTIME TO BUYINSTEAD OF RENT.MAY JUST BE RIGHTNOW."PART OF THEOPTIMISTIC SIDE ISTHE INTEREST RATESARE SO LOW.""SOMETIMES.

YOUDO A CALCULATIONBETWEEN WHATRENT'S GONNA COSTYOU AND WHAT IT ISTO BUY A HOME, ANDIT IT BECOMESPRETTY CLOSE TO AWASH.""VISIT THE LINK ONYOUR SCREEN TOLEARN MORE OF OURFINDINGS AND TOFOLLOW OURREPORTING EFFORTSFOCUSING ON THEGEM STATE'SREBOUND FROM THEDEVASTATINGIMPACTS OF THECORONAVIRUS.MADELINE WHITE.IDAHO NEWS 6."