Now that summer is under way, and we've all had a chance to watch home sales another month, we have a little better idea of where the market is here in Ada County. In a word, it has been "underwhelming". Single family home sales for June are looking to finish at 764 units, comparing to 738 in May. That is a less than normal increase over the May number, and quite a bit less than last year's near record 1102, a 31% decrease.
Breaking those numbers down a bit, we find that existing homes are still selling a bit more strongly than new construction. There were 227 new homes sold in 2007, compared to 418 last year, a 46% decrease, while existing home sales in Ada County were only off 21%.
Currently there are 4628 active Single Family listings and 770 pending sales. Both of those numbers are going the wrong way, with just more than 100 new actives on the market compared to last month. That pending number is 130 less than we started June with. That will bear watching as the summer progresses.
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