According to data presented by Costar, the commercial property market in Boise, Idaho has hit the lowest level seen in the local market in over a decade. REO and Commercial Property Expert Greg Toussieng weighs in on the issue:
In the most recent quarter, developers and businesses only closed 343 deals in the City of Boise, Idaho. According to analysts at Costar, this is the lowest number the area has seen since 2012 — more than a decade ago. Data utilized to configure these results include commercial properties, the likes of multi-family properties, industrial, retail and office spaces. With the data all stacked up, it’s clear to Commercial REO Expert Greg Toussieng that Boise’s property market has been on the decline for quite some time. After enduring a rocky pre-pandemic (2017 – 2019) that otherwise looked promising in comparison to 2012, Boise has struggled to remain at their peak in property sales. What could this mean? Toussieng views this as a learning opportunity. He also views it as a sign of things to come; which, in the long term, could have a positive impact on the REO market, in the future.
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