COEUR D’ALENE, Idaho – The North Idaho Home Builders Summit took place at the Hagadone Event Center in Coeur d’Alene, where experts discussed solutions to the region’s housing crisis.
Speakers at the event shared data on the challenges facing housing across the U.S. and North Idaho. They provided insights on national housing trends and economic forecasts.
Dr. Robert Dietz, Chief Economist for the National Association of Home Builders, highlighted the rapid growth North Idaho has experienced over the past decade. He noted that the area is one of the fastest-growing regions in the country, contributing to supply and demand issues similar to those faced by other communities nationwide.
“Single-family home building last year was a little soft. We expect to be roughly flat again this year,” Dietz said. “The state as a whole last year actually saw a gain… But the problem is the price to income ratios in this area have priced out a lot of potential home buyers.”
Dietz emphasized the importance of addressing housing affordability conditions and enabling home ownership, especially for younger households. He stated, “The key way is trying to reduce the cost of construction. So, speed up the production time, reduce some of the taxes and fees that go into building homes.”
The event aimed to connect professionals in the home and building industry to enhance communication and improve housing affordability in North Idaho.
A study by realtor.com this year highlighted the challenges of housing affordability in the region, examining factors like median household income, average listing price, and the cost of new housing construction. Among states, Oregon ranked 45th in affordability, Montana 44th, Washington State 36th, and Idaho 26th.
The summit underscored the need for collaborative efforts to address these issues and find viable solutions for the housing crisis in North Idaho.
