Boise Idaho Home Inventory – How has it changed in 6 Years?
Let’s take a quick glance of the available inventory of single-family homes in Boise Idaho.
The absorption rate is calculated by taking the averagenumber of homes sold per month, from a YTD total and dividing that number into the current number of homes available for sale now.
December 1, 2005 1.51 months of supply
December 1, 2006 4.9 months of supply
December 1, 2007 7.31 months of supply
December 1, 2008 9.83 months of supply
December 1, 2009 8.59 months of supply
December 1, 2010 6.89 months of supply
As you might recall, in 2005 & 2006, sellers were often times receiving multiple offers to buy their home and buyers would bid upwards of the asking price!
In 2008, times were tougher & it was difficult to sell homes. Now, we are reaching a supply of homes that should encourage buyers to get off the fence and take advantage of the Best Three Reasons to Buy a Home in This Market:
1. Excellent inventory and lots of choices! (Don't wait too long)
2. Lowest prices since 2002!
3. Amazing interest rates! A 1% drop in rate is equivalent of a 10% drop in price!
Now is a great time to buy Homes in Boise Idaho and Ada County Real Estate!