ADA Country Real Estate News

11 02 2015
  JANUARY 2015 Inside Scoop – Ada County
If you like to keep score 11 vs. 8 :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 UP 22% from last month, up 6% from a year ago. Chart A47, A48, & A49.
 
4.  Short Sales closing success % up – 19% this month.  12/10 high of 22%.  Record Low 11/14 at 9%.  A53.
 
5.  The dollar volume was down 31% from last month and 9% up from this same month last year.  Chart A5 
 
6.  Year to date sales units up 3% from a year ago Chart A4.  The year to date dollar volume is 9% higher this year.  Chart A6.  
7.  Median Price up for a home sold this month  – $222,000.  This is 2% up from last month; and a 6% increase from this same month last year!    Chart A10
 
10.  Resale 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%.   Charts A39, A40, and A41.
 
11.  Inventory is down 0% from last month and 7% lower than last year at this time.  Watch this, if it stays below last year’s levels price increases will heat up again.  Charts A16 & A17
 
12.  New Construction inventory down. – 793 from 809 last month.  Last year at this time there were 783 new homes for sale.  So the inventory decrease is on the resale side.  New Construction inventory has dropped for 62 of the last 100 months since reaching a high of 1890 September 2006.  Record low  0613 at 494 but it has surged up since then – Builders Beware!  I have only been tracking it since January of 2005; so 6/13 is at least a 9 year low for New Construction inventory in Ada County! Chart A19
16.  New Construction Two Month Rolling Average of Inventory Supply is unchanged.  Selling odds, using a “2 month rolling average” for sales is 7.0 from 7.0 last month.  February 2009 set a record high of 17.3 months of inventory. Last year at this time there was a 6.6 month inventory supplySeptember 2005 was the peak of the seller’s market at 1.3.  Charts A30
17.  Resale Two Month Rolling Average of Inventory Supply is up.  Selling odds, using a “2 month rolling average” for sales is 2.8 from 2.5 last month.  February 2009 set a record high of 15.6. Last year at this time there were 3.4 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 
18.  Final Sales Discount is down.  From the last asking price to final sales price, 1.4% from 1.6% last month.  Record low – 06/13 .6%.  Last year at this time it was 1.3%.  Chart 43
 
19.  Future Business Forecast is above 100%.  A54.  134%  – so closings next month will be above this month’s level.  Last year at this time it was 131%.
 
 
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