|As we head into spring, the volatility of the world around us is causing uncertainty and speculation about real estate and the economy as a whole. Interest rates are rising, now over 5% with an expectation to rise even more. Inventory of homes for sale is also increasing throughout the Treasure Valley, which is a good thing and can in part be attributed to seasonality as historically, more homes are available and sell during the spring and early summer.|
In Ada County, the number of sales has decreased slightly year over year, down 8%, but is up 26% from last month. The number of pending sales has held steady year over year and is also up from the previous month.
In Canyon County, there are good “ups”. Year over year inventory is up 59%, units sold are up 13% and pending sales are relatively steady.
Despite the crazy weather and crazy world around us, we are hopeful that the real
estate market in the Treasure Valley continues on a steady course through the Spring. As we look at the numbers, the signs are generally positive that we continue to enjoy a good market.
– Sean Hart, Associate Broker, Group One Sotheby’s International Realty