Demand:
In the most recent week, a total of 130 homes moved into the pending status. This comprised 62 newly constructed properties and 68 resale homes, indicating a steady level of demand.
Supply:
The supply of homes for sale continued its modest declining trend, with 1,217 homes available. This inventory includes 351 completed new construction homes (a slight decrease from 355), 232 homes currently under construction (slightly up from 224), and 634 resale properties (down from 677).
Inventory Rate:
The overall inventory rate for Ada County stands at 2.2 months, marking the strongest rate in 6 weeks. Both the new construction and resale markets mirrored this inventory rate of 2.2 months.
Interest Rates:
The 30-year fixed-rate mortgage hovered close to 7 percent this week, a decline from the recent high of nearly 7.80 percent just six weeks ago.
For a historical perspective on buyer demand, available homes, inventory rates, and median home prices, please click here.
*Although the author attempts to provide reliable, useful information, they do not guarantee that the information or other content in this document is accurate, current or suitable for any particular purpose. All content is subject to change without notice. All content is provided on an “as is” basis, with no warranties of any kind whatsoever. Go to Disclaimers and Methodology.
Leave a Reply