Idaho - One of the Top States with the Best Economic Outlook

Posted by Mike Brown Group on Monday, December 23rd, 2019 at 2:10pm.

In what’s becoming a habit, the state of Idaho has once again found its way onto a Top 10 list trumpeting what residents already know: that Idaho is an amazing place to work and live. Idaho was recently revealed as being the number two ranked state for Best Economic Outlook.

Governor Brad Little tweeted, “we consistently rank as one of the top states for job growth, economic momentum, low unemployment, and personal income growth – and we’re now the least regulated state in the country!”

The Governor was recently on Fox Business discussing the state’s inclusion on the list and how lessening regulations helps strengthen the state’s economy:

“75 percent of rules are gone or significantly simplified,” he said. Continuing, “I recently spoke with the real estate commission – they regulate realtors in the state – and they got rid of 85% of the rules in the last two months"

75 percent of rules are gone or significantly simplified. - Governor Brad Little 

Fewer government regulations makes it easier for companies to operate and Boise is quickly becoming a startup haven. Additionally, large, established companies are moving to the area to take advantage of its lower taxes, lower cost of living, and other perks the state offers.

The growing economy is also going to continue fueling demand for housing. With more people moving into the area, and with tight inventory supplies, home prices are going to continue climbing. According to the Intermountain MLS, the median home price in Boise was $359,900 in November 2019. That’s up over 132% of what the median price was ten years ago at $155,000.

Mike Brown of The Mike Brown Group at Silvercreek Realty Group had this to say, “It seems almost weekly Idaho or the Boise area are included in some sort of 'Best' list. We’re really not a secret anymore and consequently, we’re going to continue seeing people move here as our state has a lot of fantastic things to offer.”

With 2020 expected to be a booming real estate market for the area with high demand, low inventory, and low mortgage rates, it’s a prime time for people looking to sell their home to capitalize on the market. “For buyers looking to find a home, there are homes out there, you just need to work with an agent who knows Idaho and the area,” said Brown.

 

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