Is the Boise Idaho real estate market going to crash?

A lot of people are worried about the real estate market crashing, but they are not experts! Keep in mind only 60% of homes have a mortgage on them. 40% of homes are owned free, and clear. Here in the Treasure Valley only less than 30 homes have received a Notice of Default which is the first step in foreclosure proceedings. Remember there was a foreclosure moratorium since 2020 so that means nobody has had a foreclosure since 2020. We are, however, going through all market. Correction, home prices have been trending down slightly and there is always a slowing of the real estate market in November and December because of the holidays that coupled with the downward pressure on prices from the rising interest rates has caused sellers to ask for less than they were able to six months ago. DM me if you’d like more information on the notice of default lists!