Posted January 18, 2019 08:17:08Real estate sales in Idaho grew by 4.2 percent last year, according to a report by real estate analytics company Zillow.
Sales of single-family homes rose 1.7 percent to $4,879,000, a 7.4 percent increase over the previous year.
In contrast, single-detached home sales grew by 0.6 percent to 5,853,000.
That’s an increase of just over 1,000 units.
The report showed the fastest growth in multifamily homes in the country, up 18.3 percent to 1,904,000 homes.
“The fastest growth we’ve seen in Idaho has been for multifamily properties,” said Mike Hargrove, Zillows chief economist.
“It’s probably a little bit of a surprise to people.
The real estate industry is still recovering from the Great Recession.
But it’s certainly more robust than it was just a few years ago.”