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Deep Dive: Records reveal hundreds of Treasure Valley homes owned by out-of-state investors – How about your community?
October 25, 2022/
Nothing about this change in the market is illegal, but it changes the dynamics of how supply and demand shape prices when growing families are bidding against Wall Street firms who can afford to pay cash, thousands over the asking price of homes.
Last year, BoiseDev reported that as many as one in five homes in Boise are owned by someone who does not plan to live there. This matches with national real estate transfer data tracked by real estate consulting firm John Burns Real Estate Consulting, which estimates a fifth of homes sold nationwide go to investors. The percentage of investors buying homes climbs to 31% for homes priced under $200,000 nationwide.
Records reveal at least over 400 single-family homes in the Treasure Valley owned by investors out of state, with the vast majority held by publicly traded California-based company American Homes 4 Rent.
