Bank Owned Homes In Ada & Canyon Counties
The Boise Market has seen such growth the last 4 years I thought it would be fun to take a look at the numbers of Bank owned homes that are on the market now vs over the last few years. Reo’s, or Real Estate Owned are the properties that actually go back to the banks. Short sales obviously put a dent in the number of properties that went back to banks. With the Boise real estate market back to roughly pre crash highs, it is hard to imagine how there can even be 14 sales over this last month. Be that as it may, there were.
Anyway, there is no great surprise to see that as the Boise real estate market has come back and prices rebounded the number of Bank properties closing has dropped. I looked at a one month period over the last 4 years from late July to late August in Ada and Canyon Counties. At the present time there are 140 active or pending listings for Bank owned Reo properties in both counties!
2013 50 Closed Sales
2014 51 Closed Sales
2015 33 Closed Sales
2016 14 Closed Sales