Local housing market is looking up

New houses are going up around the gate city. Interest rates are at an all time low.

So it this a good time to buy?

“We just came out of a time frame, when people were paying more for house then what it was worth. Value is also tied to what people make that’s how you qualify to buy a home,”says Josh Ellis, president of the Greater Pocatello Association. “So the job market has been improving locally, its been improving nationally. People are feeling comfortable in their jobs.”

As you look around Pocatello, new business’s are springing up. New track homes are being developed and built.

Ryan Satterfield a local developer, said “He see’s the improvement first hand.”

“We’re certainly seeing, especially out of come out of the down turn, that we did there were a number of years there where we just weren’t really able to do any development.We weren’t getting phone calls, people weren’t interested in putting money out there. Right now people have confidence and that’s what it comes down too, ” said Satterfield.

But interest rates are at an all time low, so that means interests in homes are at a new high.

Idaho’s Department of Labor reported a four percent unemployment rate, and about seven hundred and sixty-six thousand are currently employed.