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Treasure Valley Home Prices Fall Despite Tight Supply

Treasure Valley home prices remain on a downward trend despite a rapidly shrinking supply of homes for sale.

Median home prices declined 5.7% in Ada County and 7% in Canyon County for the year ending in December.

In 2022, home prices remained positive on a year-over-year basis until November before ultimately finishing the year lower than where they had begun. This marked the first time since 2010 that home prices ended the year lower than where they started.

In January, the average 30-year mortgage rate was just over 3%. However, by the end of December, it had risen to 6.42%. This represents the largest increase for any calendar year on record.

The dramatic rise in rates shocked the system, ending the pandemic-driven housing boom. For

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Median Ada County home sales price declines

In November, Ada County home prices recorded their first year-over-year price decline since 2014.

On a month-to-month basis, home prices began falling in June but remained higher annually until now. The median home price in Ada County declined by 2.5% from last November. Prices in Canyon County eked out an annual gain of 1.4%.

Home prices have been under pressure this year as moves by the Federal Reserve to tame inflation have sent mortgage rates soaring.

Prices can rise and fall monthly, even when the overall price trend is higher (or lower). Many economists and real estate professionals focus on yearly comparisons to help smooth out that monthly volatility.

In the past few years, buyers saw the fall and winter months as an opportunity to

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Treasure Valley Home Supply Shrinks as Sellers Move to the Sidelines

In October, the supply of homes for sale dropped for the first time this year as rising mortgage rates and slowing appreciation continued to discourage potential sellers.

The number of newly listed homes plunged 30% from September, marking the fourth consecutive monthly decline. While it is not unusual to see a slight slowdown in late summer, new listings are also down nearly a third from last October, suggesting more than a seasonal shift.

Months’ supply of homes for sale in Ada and Canyon County slipped to 2.81 and 2.87, respectively, the first monthly declines since January.

As inventory decreased, Treasure Valley home prices increased. Ada County prices rose 5.1% from last October and jumped $21,000 just from last month. While home prices

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Boise Housing Market Gives Back 2022 Gains as Rates Hit 15-Year High

Treasure Valley home price appreciation declined to the lowest in eight years as rising interest rates sent affordability to multidecade lows.

Ada County and Canyon County home prices rose just 1% in the year ending in September—the slowest growth rate since 2014.

The two counties' combined sales declined to 1,043 from last year's 1,543, reflecting a shift in buyer sentiment and reduced affordability from rising rates.

Homebuyers have more choice and negotiating power compared to prior years, but monthly payments can create sticker shock.

The year began with near-record low inventory and years of pent-up demand, but rapidly rising interest rates have changed the equation for many would-be buyers.

Since January, mortgage rates have more

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Seasonality puts Treasure Valley housing market on edge

Treasure Valley home price growth continues to slow as volatile mortgage rates keep buyers on their toes, suppressing demand.

Ada County home prices rose 6.5% from a year earlier, while Canyon County prices gained 7.4%. While below the double-digit price increases we have become accustomed to in the last few years, 6-7% appreciation rates are above the Treasure Valley's long-term average.

Continuing the volatility we saw this summer, the average 30-year fixed mortgage rate increased to 5.89%—the third increase in as many weeks. Rates reached 5.81% in June before declining to 4.99% at the beginning of August.

Record low mortgage rates have been a significant driver of the demand we have seen since the beginning of the pandemic. Population

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Top Dog Parks in Boise ID

Ask any dog owner and they’ll tell you that some of their best happy hours don’t come in a pint glass. Their happiest hours are the ones spent with their best four-legged friends, letting off steam and socializing at a Boise dog park.

But dogs, like people, have their own preferences when it comes to recreating. Some like nothing more than a leisurely sniff, others like to romp with new friends, while still others like to sprint full bore in circles until they drop.

So we’ve compiled a list of our top 10 favorite off-leash dog parks in the Treasure Valley, along with what makes them so great. Here they are, in no particular order:

1. Ann Morrison Park

Downtown Boise – 1000 S Americana Blvd
Off-Leash Hours: sunrise to sunset, Nov. 1 - Feb.

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Volatile mortgage rates slow demand in Boise's housing market

The supply of homes for sale in the Treasure Valley continues to rise as buyers are forced to contend with volatile interest rates.

Over the past year, Ada County home prices have risen 9.26%, while Canyon County’s are up 6.57%.

Even as prices remain well above last year’s levels, June’s sudden increase in mortgage rates sent July sales tumbling by one-third from the same period a year ago. While that is a notable decline, it appears to be more a result of recent interest rate fluctuations than a long-term trend.

Since the end of May, mortgage rates have bounced from 5% to over 6% and back again. At one point in June, rates rose 0.55% in one week, the biggest seven-day surge since 1987.

As you would expect, that's taken affordability and

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Harrison Boulevard Boise ID neighborhood

The story of Boise's Harrison Boulevard has been in the making for more than 100 years.

Imagine being part of a city’s living history – taking tea in the same sunroom once used by one of Idaho’s first governors, or cooking in the same kitchen where J.R. Simplot may have had a billion-dollar epiphany about flash freezing Idaho potatoes, or walking your kids to school down a road that was once lined with the tracks of Boise’s electric trolley car.

Living on the stately, tree-lined street of Harrison Boulevard in the North End is as close as you can get to stepping back in time to Boise’s early days as a fledgling city. When viewing its eclectic homes, most of which were built between 1901 and 1942, you might not guess that the street was Boise’s

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Rising interest rates slow price gains in Boise’s housing market

Across the Treasure Valley are signs that the housing shortage is starting to ease as the supply of homes for sale rises to pre-pandemic levels.

Even as prices continue to move higher, appreciation rates (the annual change in home prices) are beginning to normalize, bringing much-needed balance to the Boise market.

Ada County’s median sale price rose 12.81% from a year earlier, and Canyon County’s rose by 4.95%.

Year-over-year price gains are down significantly from the 30%+ appreciation we saw in 2021, offering buyers some relief. Overall, it's a move to a much healthier market, putting us closer to the Treasure Valley's 5-6% long-term price appreciation average.

At the beginning of July, the total number of homes for sale rose to 2,081

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View from above a top golf course in Boise, Idaho

With our abundantly sunny skies, temperate spring and autumn seasons, and impossibly long summer days, it’s no surprise that the Treasure Valley has become a golfing oasis. But with more than 20 emerald-toned golf courses across the valley, choosing where to play can set your whole game up for success – or failure.

Which is why we’ve profiled the best public and private courses in the Treasure Valley. Whether you’re a newbie, a scratch golfer or a twice-a-year duffer, here’s what you need to know about the Boise area’s most popular golf courses – and what makes each of them unique.

The Club at SpurWing

6800 N Spurwing Way, Meridian, ID 83646
(208) 887-1800 | Website
Course: Private and includes the Championship Course (par 72) and Challenge

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