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IPFS News Link • Housing

THE MASS EXODUS FROM THE WEST COAST IS DRIVING HOME PRICES IN IDAHO...

• https://www.shtfplan.com, Michael Snyder

Lots of people have been moving away from the west coast over the last decade, but we have never seen the sort of mass exodus that we have seen over the last year.  This mass exodus has created some extremely hot real estate markets in desirable areas located away from the coast, and according to the Wall Street Journal, the hottest real estate market in the entire country right now is Coeur d'Alene, Idaho.

Any house in the area that gets placed on the market is likely to spark a bidding war, and according to the Coeur d'Alene Association of Realtors, the median price of a home in the region has risen by a whopping 47 percent in the last 12 months…

The median sales price in the Coeur d'Alene region rose in March to $476,900, up 47% from a year earlier, according to the Coeur d'Alene Association of Realtors. Finding a home to buy in the metro area of about 166,000 is getting tougher: Inventory of homes for sale shrank by 71% to just 337 homes. That amounts to less than a month's supply.

"That's not enough to go around—therefore, every listing gets 30 offers," Ms. Johnson said. "Since the pandemic, our market has been crazy."

In particular, the demand for high-end homes is off the charts.

During the first two months of this year, the number of million-dollar homes sold in the Coeur d'Alene area was more than five times higher than the number sold during the first two months of 2020…


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