Is it a good time to get your Idaho real estate license?

March 21, 2019 Joshua Harbst

I have been getting asked this question by quite a few folks considering getting their license. Most folks with their finger on the pulse of the economy and housing market understand that we have been riding high for quite a few years now. The Boise Valley started it’s residential turn-around in 2012-ish. Since 2013 we have had very minimal inventory and with the influx of people (we are currently the fastest growing city in the fastest growing state), demand is very high. This has caused prices to escalate at abnormal growth rates. Going on 6 years of extreme growth people can feel the let down coming. We know we cannot sustain this rate of growth. Most markets in the U.S. have cooled off and the only thing, in my opinion, that is keeping us churning is the growth. Local forecasters suggest that we will have a great 2019 and some of this pressure will be released in 2020. I think it’s a pretty safe assumption since a family making 50K can only afford 6% of the available inventory (Idaho median incomes are close to 55-56K).

So now that we have the backdrop, let’s get back to my question. While most people understand the sentiment of the above paragraph, they still have an interest to become a real estate professional. My opinion, is that the answer is always the same and also a question. Can you work hard? Sure, we see an influx of fair weather agents enter the market anytime sales are increasing and homebuyers and sellers are shaking and moving. Once things slow down, they will leave. Let’s take this to the root cause of buying or selling a home. It’s usually caused by an event in a life that requires a different living situation. Deaths, divorces, babies, and people moving happen all the time whether the market is up or down. Will homes continue to be sold in a down market? Yes. If you are working hard to become the respected professional and have some answers to homeowner’s questions, you will find work.

So Is it a good time? It’s the same answer as whether or not you work hard. Reach out to me and if you have questions about obtaining an Idaho real estate license, I would be happy to answer them.