A perfect moment for new projects?

[Robert Frazier]

Looking at our situation locally here in Southwest Idaho (Boise Metro), we might be in a once in a generation perfect moment for new projects to develop and single/small-multi rentals.

When you look at the next couple of months:

-we have a higher inventory than we've seen in a while (up 12% yoy)
-alot of buyers waiting on the sidelines for lower interest rates
-housing starts are down 60% over the last 2 years as interest rates cut MFA permits by 93%
-growth to medium sized cities has continued post covid with an average of 25000 people moving to our valley every year
-Steep income growth (Idaho has the 4th fastest growing family incomes in the country) from $69k to $91k in 3 years.
-Re-zoning Boise with +/-50% increase in density
-Stock market returns have soured since the election and the turmoil of a Trump presidency is keeping investors on the sidelines.

What I am telling my clients is that before the spring rush this year, January and February may be the best possible time to buy in a long time.

We are looking for small multi-family opportunities, infill lots and financial partners to create housing and take advantage of this timing opportunity. 

What are you looking for in 2025? Where do you see opportunities in your local markets?