ADA County Real Estate News

8 12 2014
  NOVEMBER 2013 Inside Scoop – Ada County
If you like to keep score 5 vs. 14 :o(
(I am only counting an item as “Positive” if the first part is in bold)
Positive News in in Bold
2.  Pending sales are down 7% from last month, and are up 0% from a year ago. Chart A47, A48, & A49.
5.  The dollar volume was down 14% from last month and 9% up from this same month last year in dollar volume of sales.  Chart A5
6.  Year to date sales units UP – 14% more units than a year ago Chart A4.  The year to date dollar volume is 33% higher this year.  That spreads points to the approximately 19% price increase that there has been over the last year – leaving the distressed sales in the calculation!  Chart A6.  
7.  Median Price down for a home sold this month  – $207,500.  This is 3% down from last month; and a 18% increase from this same month last year!   Chart A10
8.  New Construction Median price down this month – $274,985.  This is down 2% from last month; and a 10% increase from this same month last year.  Big swings in new construction stats since we are dealing with such small numbers of houses sold!  Chart A9
10.  Affordability unchanged from last month- now 15%.  Jan. 2005 when I started tracking Affordability it took 19% of a median income to buy a median priced resale home at the then current Freddie Mac interest rate PITI.  06/06 was the high (most Unaffordable!) at 30%  Record for the most “affordable month” 01/12 at 10.9%.  So with the rapid rise in prices and the interest rate increase it is not as “affordable” now; but still much better than at the height of the market in 2006.  Charts A39, A40, and A41.
11.  Inventory is down 8% from last month and 24% higher than last year at this time.  While the inventory is still relatively low, the large increase will effectively “slow” the rapid rise in prices.  Charts A16 & A17
13.  Resale inventory is down. – 1576 from 1812 last month.   Last year at this time there were 1316 resale homes for sale.  July 2008 was the all time record high at 3920!   July 2005 was the low point in resale inventory at 657.  Some pent up demand being released here as more owners finally have a bit of equity and can make a move.  Chart A21
17.  Resale Two Month Rolling Average of Inventory Supply is down slightly.  Selling odds, using a “2 month rolling average” for sales is 3.4 from 3.5 last month.  February 2009 set a record high of 15.6. Last year at this time there were 2.9 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A31 & A32



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