2015 New Construction Outlook
Kootenai County currently has 144,265 residents, with 64,288 Single Family Residences.
In the last 3 years Kootenai County population grew by 4.2%.
Based on this, Kootenai County will need approximately 900 additional housing units to satisfy the growth in population.
If our Sales increase in 2015 equivalent to 2014 then we should see approximately 675 new construction home sales.
2015 Forecast… Looking Ahead
With values projected to increase to 4-5% in 2015, we should see Short Sales and REO properties becoming an even smaller percentage of our local sold market.
“Existing-home sales are forecasted to rise about 7 percent in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices… Lawrence Yun , NAR Chief Economist
“First-time buyers are expected to slowly return as the economy improves and new mortgage products are made available in the marketplace with low down payments and private mortgage insurance.” Lawrence Yun , NAR Chief Economist
