Boise Area Housing Market Insight

I just wanted to keep you up on the latest---

Locally:
Homes prices and market values are rising in our Treasure Valley communities. 
Demand

Multiple Offers & Sold Over Asking

is up due to impressively low mortgage rates and an improving local economy. 
Local employers are hiring and our unemployment rate is dropping, although still high. 
The supply of homes for sale is on the rise, bolstering a low inventory, and multiple offers are becoming a reality. Distressed and foreclosed home numbers are WAY down. 

Nationally:
The US housing market is one of the bright spots in the economy, which has been hit by higher taxes and deep government budget cuts.

Home resales rose in May to the highest level in nearly 42 months and more home sellers are re/entering the market to grab the momentum, attracted by rising house prices. More sellers, more inventory... which was elevated to 11.9 percent from March to 2.16 million unsold homes on the market today.

A boon for  home sellers and buyers is the monetary policy by the Federal Reserve, which has held mortgage rates near record lows. This is helping pick the housing market up and putting a smile on the real estate industry in general.

The National Association of Realtors notes existing home sales advanced 0.6 percent to an annual rate of 4.97 million units, the highest level since November 2009.

In April 2013, the median home sales price was $192,800, the highest level since August 2008 and up 11 percent from a year ago.

Time to Sell? You know it!
Give me call,
Rick Bennett
Your Best Boise Area Real Estate Agent
208-412-2507
www.id-buyrealestate.com

rickbennett@id-buy.com