The Treasure Valley housing market is showing renewed momentum. After reaching a nine-year low, home sales have bounced back significantly since mid-year, largely thanks to easing interest rates and improved inventory.
In October, home sales in Ada County surged by 47% compared to a year ago, with Canyon County seeing a similar rise of 39%.
During the first half of the year, demand for homes slowed as fluctuating interest rates made it difficult for buyers to commit. Coupled with rising home prices, higher rates stretched budgets, making monthly payments less affordable.
However, in May, mortgage rates began to decline, sparking renewed buyer interest. Builders also offered incentives to lower buyers’ mortgage rates, further fueling demand.
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