Idaho Foreclosure Rate Drops

Foreclosure CrisisRealtyTrac’s November numbers show a substantial drop in Idaho’s foreclosure rate. The state currently has the sixteenth highest rate of foreclosure in the nation, a big improvement from its August fifth place finish. The Boise market has been hardest hit in the housing crisis, with foreclosures concentrated in Ada and Canyon Counties.

Idaho’s housing boom was concentrated around Boise and Coeur d’Alene
Idaho’s housing boom was concentrated around its two main metropolitan areas, Boise and northern Idaho, near Coeur d’Alene. John Starr of the global real estate company Colliers International had a front-row seat as capital poured into the local housing market in the years preceding the bust.

When he thinks of the early 2000s, he remembers watching land prices rise with demand, and house lots shrink. What the area wound up with, he says, were more and more subdivisions, packed tight with houses. Now, many of those homes stand vacant.

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