ADA County Real Estate News

9 11 2015
 October 2015 Inside Scoop – Ada County
If you like to keep score 8 vs. 11 :o(
(I am only counting an item as “Positive” if the first part is in bold)
Positive News in in Bold
 
1.  Sales are down 0% from last month, 21% up from this same month last year.  Wow! Chart A3
 
2.  Pending sales are down 4% from last month, up 34% from a year ago.  Wow, this is huge!  Chart A47, A48, & A49.
 
3.  Distressed sales were down this month.  Short Sales were 1% of the total sales this month.  Record high 01/12 23%.  REO sales were 2%.  Record High 12/10 at 40%. That makes 3% of the sales “distressed” this month.  Record high was 12/10 at 61%  A distant memory!  Chart A42
 
6.  Year to date sales units up 19% from a year ago Chart A4.  The year to date dollar volume is 29% higher this year.  Much bigger price increases this year cp. to 2014!  Chart A6.  
7.  Median Price down for a home sold this month  – $229,800.  This is 0% down from last month; and a 10% increase from this same month last year!    Chart A10
 
10.  Resale Affordability unchanged from last month- now 16%.  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 8% from last month and 13% lower than last year at this time.  This is a very significant number.  Watch this, if it stays this much below last year’s levels price increases will heat up even more.  Charts A16 & A17
 
13.  Resale inventory is down. – 1453 from 1672 last month.   Last year at this time there were 1761 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.  Chart A21
 
15.  Two Month Rolling Average of Inventory Supply is down.  Keep an eye on chart A28, especially the county wide number that I have put in bold!  This correlates the number of buyers with the available inventory using a “2 month rolling average” to calculate the sales.    This month’s 2.8 from 2.9 last month.  This is a critical benchmark number.  Last year at this time it was 4.0.  Chart A28
 
16.  New Construction Two Month Rolling Average of Inventory Supply is down.  Selling odds, using a “2 month rolling average” for sales is 5.3 from 5.7 last month.  February 2009 set a record high of 17.3 months of inventory. Last year at this time there was a 6.7 month inventory supply.  September 2005 was the peak of the seller’s market at 1.3.  Charts A30
17.  Resale Two Month Rolling Average of Inventory Supply is down.  Selling odds, using a “2 month rolling average” for sales is 2.2 from 2.4 last month.  February 2009 set a record high of 15.6. Last year at this time there were 3.3 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 
 
 
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