July Treasure Valley Real Estate News

12 07 2016
  2016 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
 
1.  Sales are UP 9% from last month, 10% up from this same month last year.  
 
6.  Year to date sales units up 14% from a year ago Chart A4.  The year to date dollar volume is 21% higher this year.  Higher prices will continue in 2016.  Chart A6.  
 
11.  Inventory is up 3% from last month and 15% 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
 
14.  Single Month Measurement of Inventory Supply is down.  This month’s 1.9 from 2.0 month’s of inventory last month.  This is a calculation of single month snaps – inventory for a particular month divided by that month’s sales – no averaging.  January 2009 set the all time new record high at 16.7 months of inventory.  This sets a new record low – 6/16 at 1.9!  Chart A26.
 
19.  Future Business Forecast is below 100%.  A54.  88%  – so closings next month will be below this month’s level.  Last year at this time it was 89%.
 
 
JUNE 2016 Inside Scoop – Canyon County
If you like to keep score 5 vs. 10 :o(
Positive News in in Bold
 
 
1.  Sales are up 9% from last month.  Comparing this month to the same month last year there is a 13% increase.  Chart C3
 

6.  Year to Date Sales Units up for 2016.  14% cumulative Year to date.  Year to date dollar volume is 28% higher.  Chart C4.  This will be the year for big price increases in Canyon County as more and more buyers are headed west out of Ada to find affordable housing.

 

11.  Inventory is up 16% from last month;  and 22% lower than last year at this time.  Here come higher prices!  

13.  Resale inventory is up – 640 from 546 last month.  All time high was 2149 in July of 2008.   Last year at this time there were 834 resale homes for sale.  No wonder prices are jumping higher!  Watch this!!! 12/05 was the low point in resale inventory at 499.  02/16 sets another NEW RECORD LOW at 451!!! Chart A21

14.  Single Month Measurement of Inventory Supply is up.  This month’s 2.0 from 1.9 last month.  The all time record high was February 2009 of 23.5. All time RECORD LOW!  05/16 1.9.  Previous Record Low 04/16 at 2.0.  This is a calculation of single month snaps – inventory for a particular month divided by that month’s sales. – no averaging of sales.  Chart C26

 

19.  Future Business Forecast is below 100%.  C54.  At 87% this means closed sales will be down next month from this month’s level.  Last year at this time it was 90%.
 
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