We Know Boise Real Estate
September, 2023
Found 1 entry for September, 2023.

Rising Mortgage Rates and Their Effect on the Treasure Valley's Housing Market

After a surge earlier this spring, home prices in the Treasure Valley have begun to show signs of moderating. This shift can be partly attributed to the return of pre-pandemic seasonal trends and the looming threat of rising interest rates.

From July to August, the median single-family home price in Ada County fell by $20,000, settling at $520,000. This decrease can be credited to the re-emergence of seasonal patterns and a variation in the types of homes sold during the month. Conversely, the median price in Canyon County saw a slight increase, reaching $405,000.

Since January, home prices are up 7.2% in Ada County and 2.4% in Canyon County. However, prices in both counties are still 8% lower than in August 2022.

After a slowdown last fall,

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