POCATELLO, Idaho (KIFI/KIDK) - Southeast Idaho's real estate market looks promising for people looking to sell their homes.
“A lot of times, sellers will hear ‘Oh my gosh, the market’s so hot. My home sold in six hours,” said Kelly Cammack, of HomeSmart Premier Realty in Idaho Falls and Pocatello.
Her brokerage is relatively new in town, but it's growing as fast as Pocatello is.
Cammack said that while it is a seller's market right now, it depends on your price range. Currently, the most popular home is for first time buyers. Homes in the $100,000 to $200,000 price range are in high demand.
“There’s gonna be at least five other buyers that are making offers on that same house,” Cammack said.
That's partly because of the low housing inventory buyers are working with right now. There aren't enough homes for the amount of people looking.
“We have a lot of out of state buyers that are moving here because prices in California, Colorado, Oregon and Washington, their home prices are going up so that’s forcing them to move to places like Idaho where we have cheaper housing,” Cammack said.
With neighborhoods popping up, like the Northgate Development, builders are trying to catch up.
“It’s gonna take a few years for all of the builders to catch up to the demand that we have with people moving into the area and businesses that are continuing to grow,” Cammack said.
So while it's not a buyers market, there are still advantage for those looking for homes.
“Interest rates are historically low, still, so if you are a buyer you should buy soon,” Cammack said.