As Idaho’s population continues to grow, housing is becoming harder and harder to come by. In Pocatello, realtors are seeing fever homes come up for sale while many attempt to move into the area.
Currently, there are just under 200 single-family homes available in the Gate City, according to realtor and City Council member Jim Johnston.
“That’s about 100 fewer than what we had at this same time last year…four years ago, we’d have little over 400,” Johnston said.
There is a good balance in the types of homes currently available, aside from a few price ranges, Johnston explained.
But now seems to be among the best times to sell.
“Because traditionally, as we go into the colder months, we have a smaller inventory, and so there are fewer things that people can look at,” Johnston said. “And we have a tendency to get more of those homes sold because when people need a house, they need a house.”
Johnston, who currently works for Keller Williams, has been in Pocatello realty for nearly 45 years. He’s seen the market go up and down, even calling it “a rollercoaster” in the area.
And according to Johnston, now is a very favorable time because the market is nearly balanced, still favoring the sellers at the moment, due to the shortness of inventory.
Renting and selling are both very popular in the area at the moment. In order to see more “flourishment,” Johnston believes some investors need to come in and build some “fancy, classy” rental apartments.
It’s moves like that which would give those who aren’t fully committed to Pocatello at the moment, like those moving into the area to work for the FBI, a chance to rent before they are ready to buy.
Movement into the area will definitely magnify the need for housing. Things like the FBI data center, Northgate Development and even Idaho State University’s growth all stand out to Johnston.
“There are just so many things happening there, that I think we just can’t help but be successful in an upward growth plane,” Johnston explained.
The area is expected to see major growth, though it may be 10-20 years before we see the full extent of it.