Boise Foreclosures | 2013 vs. Previous Years

December 13, 2013 by  
Filed under Market Statistics

The foreclosure rate in Boise has continued to drop significantly this year (in addition to the decline we saw last year). January of 2012 started off with a high of a 59.2% foreclosure rate, and dropped all the way down to 23.3% in December. Just one year later, the foreclosure rate has been at a consistent low for the last few months of around 10%. On average in the last two years, the foreclosure rate has dropped 73%, and 59% since 2012. The average foreclosure rate in 2011 was 48.2%, and in 2012 it dropped to 31.7%; the average this year has been 13%.

Boise Foreclosures '11-'13

As you can see in the graph below, short sales accounted for a higher percentage of foreclosures than bank-owned and HUD. This year there have been 257 short sales and 204 bank-owned/ HUD homes sold. On average each month in 2013, short sales accounted for about 9% of real estate sales and bank-owned/ HUD about 6.7%. Combined, 15.7% of this years real estate sales have been either short sales or bank-owned/HUD.

Boise Foreclosures by type '13

Below shows the complete breakdown of real estate sales in 2013. As traditional sales hit their peak mid summer, short sales and bank-owned/ HUD homes did not increase with that climb; instead continued to decrease slightly. In comparison to traditional home sales, short sales and foreclosures have stayed relatively low all year, with decreases since August. The highest was 25.9% of home sales in January and have stayed around 10% the last few months.

Boise Foreclosures by Type '11-'13

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