There’s been more news about the continued falling home prices in the U.S. One company that tracks those prices says Idaho is the biggest loser.
Corelogic reports that for April 2011, Idaho home prices fell 15.2% compared to April 2010. It’s also twice the current average for the entire United States.
According to the Center of Business Research and Economic Development at Boise State University, most of Idaho’s home sales, prior to the housing market bubble burst, were actually being driven by “second home” buying and real estate speculation.
When the bubble burst those kind of sales stopped. Now Idaho is looking at a more realistic picture of property sales, which is reflecting the overall bad economy.