Boise Economic Outlook
Taking a quick glance at the numbers for unemployment and foreclosures things don’t look much better. Boise home sales for the past 3 months have been fairly consistent but low compared to previous years. Foreclosures in ADA county tend to run 1 out of every 200 homes with southwest Boise real estate taking the biggest hit. Likely due to many new subdivisions and home sales in that area over the past couple years.
Unemployment in the Boise-Nampa area has reached over 8% almost doubling from this time last year. Nationally, we don’t look too bad, some states are worse some are better. Unfortunately there is rumors of the unemployment rate reaching above 14%. How this will affect Boise will likely mean more foreclosures and more businesses closing their doors. It is hard to imagine the economy improving with the unemployment rate set to double again.
