Ada County Idaho single family home sales for April finished at 662 units (listed in mls as single family, not townhomes or condos, though some of those do get listed as SF). That dissapointed me a bit, as I was expecting to finish close to 700. Last year there were 832 closed sales in April, so we are well off that pace. This was about when the hot market began noticeably sputtering last year.
To follow up on last week's post about existing vs new construction, it is interesting to see that existing home sales were actually better than last year! This year in April there were 488 resale homes in Ada County, compared to 480 in April 2006. For new construction we closed 174 this year compared to 352 in 2006. The current weakness is in new construction, not resale, at least here in the Boise and Meridian areas.
I want to mention that we've seen a little slowdown in action the last two weeks. The number of showings and offers written is down from early April, according to the conversations I'm having with other agents, and my own experience. There are buyers out there, but they do not seem to be in a hurry. Perhaps it is the constant media drumming about how tough it is now?
There are currently 4289 actives and that number has been creeping up. Pendings has declined to 890 this morning, although that could be due to the large number of closes we've seen in the first 3 days of May (147 already, compared to 81 in the first 3 days of April). The Parade of Homes and some better weather are expected to be the catalyst going deeper into May. I'll post about both as we go.
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