Idaho Housing Market Down, but State Offers Incentive

The Coeur d’Alene Press in Coeur d’Alene, Idaho, says since the tax credits for homebuyers expired in September 2010, the housing market from manufactured homes to waterfront properties has slowed.  Compared to a year ago, home sales are down 8.4 percent, total dollar volume has fallen 11.8 percent, average sale price fell by 3.7 percent and the median price dropped 7.4 percent.  Sales of new homes have fallen from 15.5 percent to 10.6 percent, single family homes have fallen nine percent, homes with acreage dropped 12 percent and averages for manufactured homes have also declined.  Only the market in condos and townhomes has improved.  However, Idaho has its own tax credits for first time homebuyers.  The Idaho Housing and Finance Association (IHFA) offers a $2,000 credit for a one-time $300 fee, and up to a 20 percent discount on the mortgage interest paid.

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