TWIN FALLS, Idaho (KMVT/KSVT) – Even though mortgage rates are starting to drop, many people in our area are still having trouble finding housing.

Bryan Newberry is a broker and owner of Magic Valley Realty. He says interest rates have dropped one percentage point, or 25 percent, since October 2024.

While this helps homebuyers pay their monthly payments, people looking for a new home face another problem.

“Unfortunately, with interest rates falling, I expect home prices to continue to rise this year,” Newberry said. “We simply have an undersupply of homes. I don’t think home affordability is going to improve anytime soon in Twin Falls or Idaho, we still have many more buyers than sellers.”

Michael and Andrea Mayfield of Twin Falls have been looking for a home for a year. Despite their tireless search, they say they have not found anything yet.

“It’s been difficult to find an affordable home in a nice neighborhood,” said Michael Mayfield. “It seems like everything costs around $300,000, which is above our budget.”

According to the couple, they have been looking for a home for their family in Twin Falls, Jerome and even Hagerman.

They even considered upgrading to a smaller prefab home to keep within their budget, but these also proved to be too expensive.

Although they have no luck, they are looking for a new home every day.

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