Annual inflation slowed in April to its lowest level in four years, as falling prices for gasoline and groceries helped offset rising housing costs. Overall prices rose 2.3% last month from a year earlier, slower than the 2.4% annual inflation recorded in March according to the U.S. Labor Department’s consumer price index (CPI) data.
The Federal Reserve released a statement that interest rates would remain unchanged at roughly 6.75%. The statement stated that the unemployment rate remains low and inflation has generally improved. The uncertainty currently hovering around the Federal Government’s trade policies will likely result in rates not changing until more clarity is given.
A recent survey of homebuilders, given by The National Association of Homebuilders, found that builders expect an average cost increase of $9,200 per home due to recent tariffs. This would be due to cost increase of imported materials necessary for homebuilding. If construction costs rise, homebuilders could either try to pass the increase along to buyers or reduce their profit margins. In Idaho, 40% of active home listings are new homes. This is the highest of any state in the nation meaning these increases could potentially impact Idahoans more than those looking to buy elsewhere. Nationally, 17.5% of all active home listings are new homes.
Idaho’s seasonally adjusted unemployment rate was unchanged between February and March, remaining at 3.7%.
March’s labor force decreased by 667 (-0.1%) people to 1,011,659 while the labor force participation rate – the percentage of people 16 years of age or older who are either employed or looking for work – decreased by 0.1 percentage point between February and March, down to 63.7%.
Total employment decreased by 339 to 974,031 as unemployment decreased by 328 (-0.9%) to 37,628.
Idaho’s nonfarm jobs had a net decrease of 700 jobs (-0.1%) for a total of 876,600 in March. Industry sectors with the greatest over-the-month losses included health care and social services (-2.3%), information (-1.1%), real estate and rental and leasing (-0.8%), private educational services (-0.6%) and wholesale trade (-0.6%).
Industries that experienced job gains in March included other services (2%); durable goods manufacturing (1.1%); management of companies and enterprises (1.1%); federal government (0.7%); professional scientific and technical services (0.7%); arts, entertainment and recreation (0.6%); state government (0.6%) and transportation, warehousing and utilities (0.6%).
Three of Idaho’s six Metropolitan Statistical Areas (MSAs) had over-the-month nonfarm job increases in March. Twin Falls saw the largest increase of 0.4%, followed by Coeur d’Alene (0.3%) and Idaho Falls (0.2%). Boise and Lewiston experienced no change, while Pocatello had a decrease of -0.2%.
The College of Western Idaho (CWI) is partnering with a local developer to build a downtown Boise campus. The programs offered at the Boise campus will include computer science, cybersecurity and business. The mixed-use development will include housing, hotel and retail mingled with the college building. The completion date is estimated to be fall 2027. The new campus will free up some funds that were directed at leasing multiple space in Nampa. The CWI component is about 101,000 square feet.
Other Real Estate News
- Yahoo! Finance | More Than 80% of Metro Areas Posted Home Price Increases in First Quarter of 2025
- USA Today | Is it Finally a Buyer’s Housing Market?
- Redfin | Economic Jitters, High Costs Stifle Spring Home Sales
Please note: Some news outlets may protect their content with paid subscriptions. While we try to refrain from sharing articles that may not be accessible to everyone, we may share them if important to the industry.
Additional information about trends within the Boise Region, by existing and new construction, are now available here: Ada County, Elmore County, Gem County, Four Rivers Region (coming soon), and Condos, Townhouses, and Mobile/Manufactured Homes Market Reports. Each includes an explanation of the metrics and notes on data sources and methodology.
Ada County
Canyon County
Elmore County
Gem County
Condos…
Download the latest (print quality) market snapshot graphics for Ada County, Ada County Existing/Resale, Ada County New Construction, Boise County, Elmore County, Gem County, Malheur County, Payette County, and Washington County.
Since Canyon County is not part of BRR’s jurisdiction, we don’t publicly report on Canyon County market trends. Members can access Canyon County snapshots and reports in the Market Report email, or login to our Market Statistics page. Our Owyhee County snapshot can also be accessed on our Market Statistics page.
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The data reported is based primarily on the public statistics provided by the Intermountain MLS (IMLS), a subsidiary of Boise Regional REALTORS® (BRR). These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS, Boise Regional REALTORS®, and Idaho Policy Institute provide these statistics for purposes of general market analysis but make no representations as to past or future performance. If you have questions about this report, please contact BRR’s Director of Growth & Strategic Communications Taylor Gray at 208-947-7238. For notes on data sources, methodology, and explanation of metrics, visit boirealtors.com/notes-on-data-sources-and-methodology.
If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.
Boise Regional REALTORS® (BRR), a 501(c)(6) trade association, represents real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.
“REALTOR®” is a federally registered collective membership mark which identifies a real estate professional who is member of the National Association of REALTORS® (NAR) and subscribes to its strict Code of Ethics.
