Rising home prices, elevated interest rates, and a growing supply are contributing to slowing demand for all but the best-priced properties.
As competition intensifies, sellers have started offering more concessions to attract buyers, ranging from interest rate buydowns to assistance with closing costs.
In Ada County, the median home price is now $551,950, a 3.3% increase from last year. Boise saw a bigger jump, with prices rising 7.4% to $537,000. Canyon County's prices rose slightly to $419,900, a 1.2% increase from last June.
Falling rates at the end of last year spurred a rush of interest from homebuyers at the beginning of this year. Combined with a limited supply, this surge pushed prices to a two-year high. However, rates rose
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