Roughly 10 years ago I moved to the Treasure Valley and coming from Phoenix, Arizona this was a breath of financial fresh air. Back then I remember using the cost of living calculator and being super excited about the fact that it was thirty percent cheaper to live in Eagle. It was even more affordable to live in Meridian and Boise. Life was good and the cost of living vs. the quality of life was great. Fast forward 10 years and I like to say that half of California, Texas and Arizona has discovered our little corner of the world and they're all moving here and driving home prices way up. So exactly what has happened since the housing crash of the mid 200's?

In a recent interview Breanna Vanstrom, CEO of Boise Regional Realtors, told ktvb

"If we look back at our previous peak, what we saw back then was a lot of speculative building and buying... We saw a lot of inventory back then and prices sort of rising, along with inventory, where if you look at our markets today you're seeing home prices rise while inventory is falling."

See, it's all the transplants taking over. I see license plates daily... California, Arizona, Texas. Okay fine I will stop ranting. Vanstrom added...

"So we're seeing kind of classic supply and demand factors going on in today's market where you know almost 15 years ago it was very different where we saw a lot of speculation,"

The long and short of it is that the median price of homes in Ada county has increased by 241% since 2011. As a mater of fact according to the Boise Regional Realtors the median price in January was $454,00. If you own a home in Ada county congrats.

 

UP NEXT: See how much gasoline cost the year you started driving