Idaho’s Biggest Housing Market Sees Sales Decline in foreclosed Homes
BOISE, Idaho (AP) — New data shows a decline in sales of foreclosure properties in 2012 in Idaho's biggest housing market. That news comes as figures also show the housing market in the Boise/Nampa area to be among the fastest to recover nationwide. The Idaho Statesman reports that foreclosure sales in Ada and Canyon counties for 2012 total about 1,900 — down from 4,100 last year.
At the same time, the number of short sales of homes is just as common as foreclosures. A short sale occurs when a home is sold for less than the amount owed on the mortgage. In the market, figures show 2,100 homes were sold short last year, compared to 2,200 in 2012. Real estate agents say the reduction in foreclosures is likely due to a shrinking inventory.