Treasure Valley Real Estate Market Update – February 2018

7 02 2018
Save the Date:  Wednesday, July 25 Chart Classes at Title One in Meridian.
Headline:  January Market Takes Off like a ROCKET!
Current Month’s Chart Access:
 1.  Select “Webb Charts” tab on the top strip, then “log in to Webb Charts.”  Username always stays the same but the password changes monthly on or about the 6 – 8th.
 2.  Username: jerewebb
 3.  Password: 
 4.  You may then choose to download one of 3 PDF file options.
 
 
Color Code:  This is the Title Background so you won’t miss it!
Blue = Buyers Only
Silver = Sellers Only
Yellow = Both
 
  January 2018 Inside Scoop – Ada County
If you like to keep score 12 vs. 4 :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 26% from last month, 11% UP from this same month last year.  Strong Close for the year  Chart A3 
 
2.  Pending sales are UP 15% from last month, UP 34% from a year ago. Chart A47, A48, & A49.
 
3.  The dollar volume was down 23% from last month and 35% up from this same month last year.  Chart A5  
 
4.  Year to date sales units UP 11% from a year ago Chart A4.  The year to date dollar volume is 35% higher this year.  Wow!!!.  Chart A6.  
 
5.  New Construction Median price up 3% this month – and a 18% 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
 
6.  Resale Median UP 1% this month – and a 15% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.
 
7.  Resale Affordability Unchanged– now 23%.  Jan. 2005 when I started tracking Affordability it took 18% 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 29%  Record for the most “affordable month” 01/12 at 13%.  Interest Rates have climber 27 basis points in just the last month! Charts A39, A40, and A41.
 
8.  Inventory is down 17% from last month and 14% lower than last year at this time.  This a NEW RECORD LOW since I have started tracking in 1999!  Charts A16 & A17
 
9.  New Construction inventory Down– 761 from 840 last month.  Last year at this time there were 816 new homes for sale.  Record high 09/06 at 1890!  Record low  06/13 at 494 but it has surged up since then.  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
 
10.  Resale inventory is Down. – 424 from 582 last month.   Last year at this time there were 555 resale homes for sale!!!.  July 2008 was the all time record high at 3920!   January 2018 is the NEW LOW Point in resale inventory at 424.  This is at least an 18 Year Low!  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
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To get the complete “inside Scoop” along with full access to over 100 charts published monthly, go to jerewebb.com and become a subscriber!
 
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