There’s no question, Boise is growing and the real estate market is booming right along with it.  In May, total sales volume for residential real estate in Ada County hit a record high of $404.4 million, a 30.5% increase from the same time last year.  This large jump is due primarily to two factors:  (1) more people are moving into the area and buying homes and (2) home prices are escalating, due to low inventory and increased costs of land, labor, and construction. 

Because of lack of availability of existing homes to meet new buyer demand, builders have been busy.  In May, there was a 60% year over year increase in the number of newly constructed homes sold!  Over the same time frame, prices of new construction also increased by 8.7%.  This is a decent appreciation for builders but is actually only half as much as the price increases experienced in the “existing homes” market.  This month, the median year over year price appreciation for existing homes rang in at 16%.

This rapidly growing market does not cause me too much concern for those who already own a home in the valley and are building equity at a rate in line with cost increases.  Their equity position will likely give them the ability to sell and buy without too much financial strain.  However, I do have concern for those local people who are renting and hoping to buy.  With Idaho wages not increasing as rapidly as housing prices and with no growing equity in a current home, these individuals may be quickly pushed out of the market as housing becomes less affordable.   Although not the scenario most people like to see, this is the picture that is expected to occur as any city grows—and Boise is certainly growing!  If you’d like to talk with us more about the market and how it may affect your personal buying/selling situation, please don’t hesitate to call!  We’d love to share what we know and help you discern the best potential next steps!

Below are the current Ada County market statistics for May 2017 compared to May 2018:

Existing/Resale...

• Closed sales – 1,160 (up 13.5%) 
• Median Sales Price - $287,000 (up 16%)
• Days on the Market - 19 (down 9.5%) 
• Inventory: 741  (down 33.6%)
• Months of Supply: 1 (down 33.3%) 

• $159,999 or less: 1.3 month
• $160,000 - 199,999: 0.4 month
• $200,000 - $249,499: 0.3 month
• $250,000 - $299,999: 0.6 month
• $300,000 - 399,999: 1.1 months
• $400,000 - 499,999: 1.6 months
• $500,000 - $699,999: 1.8 months
• $700,000 - $999,999: 4.2 months

• Closed sales – 325 (up 60.1%) 
• Median Sales Price - $349,900 (up 8.7%)
• Days on the Market - 68 (down 13.9%)
• Inventory: 650  (down 19.3%)

Though you may have never heard his name before, James B. Funsten impacted Boise in ways still visible today.  He was born in Virginia on July 23, 1856, and was the eldest son of a colonel.  He grew up to become a lawyer but later left his law practice to become a clergyman.  In 1898, he was assigned to Boise as the first bishop of the Episcopal Diocese of Idaho.  Four years later, on a spring day in May of 1902, Rev. Funsten along with Rev. Charles Deuel, dedicated St. Michael’s Cathedral in front of a crowd of over 500 people.  This beautiful, Gothic cathedral was built with sandstone from Table Rock and still stands at State and 8^th Streets in downtown Boise.  At 116 years old, the building continues to host five worship services per week for its parishioners.   

In the December following the dedication of the cathedral, Rev. Funsten also founded St. Luke’s Hospital, which began as a cottage filled with just six beds.  Nurses were scarce, so St. Luke's Hospital added a school of nursing in 1903.  For decades, St. Michael's Women's Auxiliary supported the hospital by making bandages and dressings for surgery, furnishing patient rooms, sewing layettes for the nursery, and buying lab equipment. Thousands of dollars were raised annually at the church-sponsored St. Luke's Ball. Today, St. Luke’s Regional Medical Center is Idaho’s largest hospital and is a not-for-profit health system, treating approximately 325,000 patients a year.

Reverend Funsten died in Boise at the age of 62, and his body was returned to Virginia for burial.  Although he was not born or buried here, his life had a lasting effect on our city!

Sometimes people wonder why Christians sing at their church services.  Some might think it’s because it’s tradition, or that’s just “what you do” at church, or because it’s fun to sing and it’s nice to have a venue to do so.  Although these reasons are partially true, the real heart behind singing in church should be so much more than that—it should be worship. Worship is “the feeling or expression of reverence and adoration” toward something.  Although the word “worship” may seem odd and possibly even cultish to some, I am pretty confident all people have at some point or another sung to or made a joyful noise in reverence or adoration of something. 

Perhaps the most relatable example of worship I can give is that of cheering on your favorite sports team.   When your team does something well or makes a winning play, don’t you often jump off your seat, make a joyful shout, and cheer in adoration of what they’ve done?  Singing in church is meant to be something similar.  Those who sing should be singing out of adoration and rejoicing in the goodness and greatness of God.  Psalm 95 says, “Oh come, let us sing to the Lord, let us make a joyful noise to the rock of our salvation!  Let us come into his presence with thanksgiving; let us make a joyful noise to him with songs of praise! For the Lord is a great God, and a great King above all gods.  In his hand are the depths of the earth; the heights of the mountain are his also.  The sea is his, for he made it, and his hands formed the dry land.  Oh come let us worship, and bow down, let us kneel before the Lord, our Maker!” 

Wow!  When I think of these things, I can’t help but smile, sing, cheer, and rejoice in my God.  Because I believe that He made the sea and the land, the beautiful scenery I enjoy, the amazing animals I marvel at, each individually incredible human I encounter, I can’t help but cheer at the depth of His creativity.  When I remember that He made me, knows me completely, and loves me, I can’t help but rejoice.  When I ponder the depths of His power over all rulers and authorities, I can’t help but humbly approach Him as the great King above all.  And, when I remember how He paid the penalty for my sinful life by giving up His own righteous life in my place, I can’t help but sing out songs of thankfulness.    For if these things are true, as I believe them to be, He is indeed worthy of our reverence, adoration, joyful noises, and song.  He is indeed worthy of our worship! 

For those of you who believe as I do, I hope this is a good reminder (as it was for me) of why we sing in church.  I hope it adds depth, meaning, and joy to your songs the next time you sing them.  And for those who don’t believe as I do, I hope this gives you greater understanding as to why those crazy Christians sing in church…sometimes even at the top of their lungs, with big smiles, and tears of joy running down their faces.  We are just crazy happy for our God’s winning play!