Nampa Realtor Says Inventory Levels Are at a Critical Low!
“The housing market for Canyon and Ada Counties has experienced a boost in recent months. In Nampa alone, April has accounted for a 68% increase in number of homes sold compared to January,”says Wixom.
The communities of Nampa and Caldwell, Idaho currently have less than a 5 month supply of homes available. Ada County (Boise & Meridian) is near the 6 month supply level. In the price category under $100,000, Nampa has only 3.5 months of product available.
These numbers contrast greatly with 2008 inventory, where some price categories had over 2 year’s supply.
“With this low inventory of homes available, we are likely to see price stabilization quickly,”says Broker/Owner Don Wixom of RE/MAX Advantage.
“We have seen homes receive multiple offers with bids higher than the asking price,”says Wixom. “Buyers are getting frustrated, but we need to see this rapid decline in values stop!”
Whether this is a seasonal trend or a long-term market correction for homes in Nampa, we may not know until this next winter. For now, you might start thinking of buying Idaho real estate!