- COVID-19’s Impact on the Q1 Market - On March 25, 2020, Governor Brad Little announced Idaho’s statewide stay-home order. While this occurred in Q1, we saw little to no reduction in asking rates or transaction volume during the first three months of 2020. The pandemic may impact the majority of real estate sectors in the second quarter. Q2 insights will be published in early July.
- Asking rates remained firm across the retail and industrial product types in the first quarter and rose slightly amongst the office sector.
Vacancy rates remained steady across all products types, with a slight lean towards negative absorption. The industrial sector saw nearly 90,000 square feet come back on the market with nearly 80,000 of that coming from a former food processing plant in the city of Hansen.