Mortgage Rates Hit 3-Year Lows; Will Lower Rates Shift Boise's Real Estate Market?
Posted by Lisa Kohl on
Despite rising inventory and months of elevated borrowing costs, Ada County home prices climbed 4.1% in September. Now, with mortgage rates at their lowest level since 2021, will it be enough to influence Boise’s real estate market?
In September, the median sold price in Ada County was $558,522, up nearly 4.1% from a year ago. In Canyon County, prices rose to $429,958, a 5% increase compared to last year. Historically, in a balanced real estate market, the long-term average for home price appreciation of 3-4% is often viewed as a benchmark for normal appreciation.
Inventory levels in both Ada and Canyon counties have held relatively steady over the past few months, sitting at 2.96 months of supply in September. Fall typically marks the seasonal…
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