There are some changes afoot in the Ada County housing sales as we reach the beginning of month 9 of 2012. It's not much of a surprise, if you remember back, that home sales peaked in 2005. According to data, they bottomed out in 2008. Since then, existing home sales in Boise and the surrounding area have been steadily climbing. New construction, however, has had six straight years of decline...until 2012. Based on trends and pending home sale data, this year is looking to raise sales back up to levels they were in 2008. Lower inventory supply of existing homes means less deals for buyers to grab, and has caused them to either delay the buying process until something more becomes available OR to look towards new construction to meet their needs. What does this all mean for Ada County's housing market in the year ahead? Most likely a small but sure increase in home prices, which could be the deciding factor in some homeowners putting their property up for sale. Overall, this--coupled with continued new home building-- should help to raise the number of houses sold in 2013 as Boise continues to be one of the nation's leaders in the housing turnaround. To view a short video featuring a chart of Ada County new construction and existing home sales for 2012, click here.
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Boise Real Estate News and Home Reviews from Mike Turner and his team of top Luxury Home Agents at Front Street Brokers in the Boise Idaho marketplace. We review and analyze the best homes on the market and give you our honest opinions of the properties, as well as offer the best market insights you will find in Idaho.