Sellers are feeling the pain.Median price is down 15.3 % year over year. Prices back down to 2021 levels and still dropping. Boise is giving up the Covid bump pretty fast. Anyone who bought in 2021/2022 with less than 10% down payment is now underwater. Let’s see if layoffs start hitting to further accelerate the decline.
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On a related, but side note, there are some deals to be had in Pheonix right now. Condos and town homes are really starting to sit for a while and people are getting desperate. It is still snowbird season, so there are sales being made while people are out enjoying the weather, but once it's time to go back to home there will really be some steals. Tons of 2-3 bedroom condos right now at 200K, look for that to fall about 25% come June. A lot of business are relocating to the area, and they are building out really far (think Palmdale) and the freeways are a stupid loop system, so anything closer in will always have a high demand. Anyways, something to watch, can buy multiple properties or a multifamily for next to nothing soon.