In 2005 were the home sales driven by fleeing Californians?
I know NV, Id and to some extent UTah and MT were overrun with expat CAliflowers in the period 2000-2007, now they have no money and so the boom is over.
We saw a smaller version of this in the 80s when the Califlower real estate market boomed (overheated) and some folks split then....
Yup - we are in North Idaho - most of the inflated sales were purchased by out of state investors