FEBRUARY 2013 MARKET PERSPECTIVE FOR BOISE ID

6 03 2013

As I look at the February Ada County numbers I see a lot of positive:

  1. Healthiest market in terms of Equity Inventory and Equity Sales since September 2008 except for a brief burst in August & September of 2012.
  2. Best February sales month in terms of units closed in 6 years – have to go back to 2007 to find a higher February.
  3. Sales $ volume up 20% over a year ago, unit volume up 4% – can you say “higher prices!”
  4. Median resale equity pricing so far this year is 5% higher than the equity median pricing for 2012.
  5. Looking at the 2 month rolling average for supply this February tops out lower than recent years so another sign that the market is moving in the right direction – 4.1 months of supply vs. 4.6 last year.  New construction is 6.1 vs. 7.9 last year.  Resale is 3.5 vs. 4.0 last year.

One cautionary note that I see buried deep in the numbers is this:  the “future business forecast number” is not as strong at this point as it has been in the past.

  • 2010 – 145%
  • 2011 – 133%
  • 2012 – 143%
  • 2013 – 125%

This is a calculation that predicts closing levels in the next 30-60 days based upon new business written, pending levels, etc.

For more information contact Jere Webb at 208.861.2222.  Or by email at jw@jerewebb.com

http://www.jerewebb.com

 

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