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| The Idaho Falls Metropolitan Statistic Area shows normal valuation on CoreLogic's map. |
CoreLogic, out of Irvine, Calif., reported home prices increased for the year by 3.7%. Snake River MLS’s marketing statistics show the median home price in Bonneville County through November was $221,050, up from $196,820 — an increase of 12.31%.
Idaho ranked first in home price change, registering 10.2%. And while Bonneville County showed up on the map, the hottest market in the state remains Treasure Valley. To the south, Utah showed an increase of 6.7%
The CoreLogic HPI Forecast indicates that home prices will increase by 5.3% on a year-over-year basis from November 2019 to November 2020. On a month-over-month basis, home prices are expected to increase by 0.2% from November 2019 to December 2019. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.
During the second quarter of 2019, CoreLogic, together with RTi Research of Norwalk, Connecticut, conducted an extensive survey measuring consumer-housing sentiment among millennials. The study showed that a significant number of older millennials (ages 30-38) are strongly considering moving within the next 12 months, with 64% of this cohort expecting to purchase a home, reinforcing this group’s interest in the housing market. Meanwhile, 57% of younger millennials (ages 21-29) plan on renting their next home. Despite the purchase intent among older millennials, nearly half (43%) still view homeownership as unaffordable and out of reach.
