While the number of pending home sales have declined nationally, activity in the Treasure Valley real estate market has remained steady and practically unchanged from last year as falling mortgage rates could set the stage for a Spring surge.
In February home prices saw slight year-over-year growth. Ada County’s median sales price rose 1.5% to $530,000, while Canyon County’s median increased 1.5% to $415,990. With the number of closed sales and the average days on market remained nearly unchanged in both counties.
Housing supply has edged up slightly, particularly in Canyon County, with 2.47 months of inventory up from 2.03 months a year ago. In Ada County, inventory increased to 1.89 months, compared to 1.78 a year earlier. Buyer demand is
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