The median price for a single-family home in Ada County in July was $540,000, a 38.5% year-over-year increase from July 2020.

BOISE, Idaho — Editor’s Note: This article was originally published by the Idaho Press.

The Treasure Valley’s housing market is starting to cool off. It’s still a strong seller’s market, but rising inventory means buying a house has tended to be a little less of a frenzy than it was a few months ago.

Signs of increasing inventory arose last month. The trend continued in July, according to new data from the Intermountain Multiple Listing Service. Low inventory, along with low interest rates, were key drivers in climbing home prices. Though prices remain high, more inventory means a shift closer to a more balanced market.

Read more…

Share.

Comments are closed.