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!
 




Real Estate Market Update

27 09 2017
AUGUST 2017 Inside Scoop – Ada County
If you like to keep score 13 vs. 3 :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 6% from last month, 13% UP from this same month last year.  Chart A3 
 
2.  Pending sales are down 4% from last month, UP 12% from a year ago. Chart A47, A48, & A49.
 
3.  The dollar volume was UP 8% from last month and 23% up from this same month last year.  Chart A5  
 
4.  Year to date sales units UP 1% from a year ago Chart A4.  The year to date dollar volume is 10% higher this year.  More price increases are ahead for 2017. . . .  perhaps a 6-7% increase in median resale for 2017 over 2016.  Chart A6.  
 
5.  New Construction Median price UP 6% this month – and an 8% 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  2% this month – and a 10% 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 continue at record lows but have gone from 3.47% to 4.20% just since the election. .now in May falling back to 4.01%, June 3.9% .Charts A39, A40, and A41.
 
8.  Inventory is down 1% from last month and 12% 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
 
9.  New Construction inventory Down– 711 from 724 last month.  Last year at this time there were 749 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. – 1226 from 1228 last month.   Last year at this time there were 1440 resale homes for sale!!!.  July 2008 was the all time record high at 3920!   January 2017 is the NEW LOW Point in resale inventory at 555.  This is at least a 17 Year Low!  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 
11.  Single Month Measurement of Inventory Supply is Down.  This month’s 1.7 from 1.8 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.  NEW Record low – 06/17 at 1.6!  Chart A26.
 
12.  Two Month Rolling Average of Inventory Supply is unchanged.  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 1.7 from 1.7 last month.  This is a critical benchmark number.  Last year at this time it was 2.0.  Chart A28
 
13.  New Construction Two Month Rolling Average of Inventory Supply is up.  Selling odds, using a “2 month rolling average” for sales is 3.1 from 2.9 last month.  February 2009 set a record high of 17.3 months of inventory. Last year at this time there was a 3.7 month inventory supply.  September 2005 was the peak of the seller’s market at 1.3.  Charts A30
14.  Resale Two Month Rolling Average of Inventory Supply is unchanged.  Selling odds, using a “2 month rolling average” for sales is 1.4 from 1.4 last month.  February 2009 set a record high of 15.6. Last year at this time there were 1.7 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 
15.  Final Sales Discount is unchanged.  From the last asking price to final sales price,  0.3% from 0.3% last month.  Record low – 05/17 0.2%.  Last year at this time it was 0.7%.  Chart 43
 
16.  Future Business Forecast is below 100%.  A54.  93%  – so closings next month will be below this month’s level.  Last year at this time it was 94%.
 
 




May 2017 Real Estate Update – Ada County Idaho

9 06 2017
1.  Sales are UP 21% from last month, 2% down from this same month last year.  Chart A3 
 
2.  Pending sales are UP 7% from last month, down 1% from a year ago. – humm  Resale Pendings DOWN 12% from a year ago.  All of that slack is being made up for in New Construction. Chart A47, A48, & A49.
 
3.  The dollar volume was Up 25% from last month and 7% up from this same month last year.  Chart A5  
 
4.  Year to date sales units down 2% from a year ago Chart A4.  The year to date dollar volume is 5% higher this year.  More price increases are ahead for 2017.  Chart A6.  
 
6.  Resale Median UP this month – $247,500.  This is a 4% change from last month; and a 8% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.
 
7.  Resale Affordability UNCHANGED now 22%.  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 continue at record lows but have gone from 3.47% to 4.20% just since the election. .now in May falling back to 4.01% .Charts A39, A40, and A41.
 
8.  Inventory is up 6% from last month and 12% 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
 
9.  New Construction inventory down. – 756 from 785  last month.  Last year at this time there were 785 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 up. – 1052 from 920 last month.   Last year at this time there were 1274 resale homes for sale!!!.  July 2008 was the all time record high at 3920!   January 2017 is the NEW LOW Point in resale inventory at 555.  This is at least a 17 Year Low!  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 
11.  Single Month Measurement of Inventory Supply is Down.  This month’s 1.8 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.  NEW Record low – 05/17 at 1.8!  Chart A26.
 
12.  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 1.9 from 2.0 last month.  This is a critical benchmark number.  Last year at this time it was 2.1.  Chart A28
14.  Resale Two Month Rolling Average of Inventory Supply is Down.  Selling odds, using a “2 month rolling average” for sales is 1.4 from 1.5 last month.  February 2009 set a record high of 15.6. Last year at this time there were 1.6 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 
15.  Final Sales Discount is down.  From the last asking price to final sales price,  0.2% from 0.5% last month.  Record low – 03/17 0.3%.  Last year at this time it was 0.4%.  Chart 43
 
 




January 2017 Real Estate Charts – Treasure Valley Idaho

7 02 2017
4 New Canyon County Charts.  In response to Al Busby’s request you will now find a pricing breakdown for New Construction Average Price & Median; as well as Resale of the same for Canyon.  This should be a great benefit if you do business in Canyon County.
 
A39L = Long View of Affordability.  I put this one in knowing that the data can’t be precisely read; but it does give clients a picture of “Affordability” from the peak of the bubble to the present time which is an excellent perspective.  When I have more time I plan to manually eliminate a lot of the overlapping data point labels and just show peaks and valleys.  Look for that in “future improvements.”  Please consider this one just a very “rough draft.”
Note: Major change in Ada Affordability Charts for January 2017.  I found Government Census information that confirms what we thought in class – Ada Median Household Income has NOT continued up 3%/year since the last official census.  Even this data through January 2015 is still only an “educated guess” by the census department and may be adjusted later.  But it is certainly more in keeping with what we are all feeling.  So in keeping with this data my “interpolations” for the last two years reflect this new data and it does make a significant difference as you can see by about 6-7%!
 
Mark the date: July 12 next Chart Classes at Title One in Meridian.  Thank you Laurie Burchfield for the Demo at Stats 101.  In the future I would like to have her play an even bigger role in teaching our Chart Classes.  Remember she IS the “Instigator!”  :o)




Webb Real Estate News

9 08 2016
JULY 2016 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
  
6.  Year to date sales units up 13% from a year ago Chart A4.  The year to date dollar volume is 19% higher this year.  Remember our 7/21 class “mid year price projection!”  So keep watching this spread – it is at 6% now.  Chart A6.  
10.  Resale Affordability UP (more Affordable)  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%.  Interest Rates continue at record lows but Resale prices are surging! Charts A39, A40, and A41.
 
13.  Resale inventory is up. – 1495 from 1353 last month.   Last year at this time there were 1760 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.  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 
18.  Final Sales Discount is unchanged.  From the last asking price to final sales price, .5% from .5% last month.  Record low – 04/16 .3%.  Last year at this time it was 1.0%.  Chart 43
 
19.  Future Business Forecast is below 100%.  A54.  89%  – so closings next month will be below this month’s level.  Last year at this time it was 90%.
 
 
JULY 2016 Inside Scoop – Canyon County
If you like to keep score 5 vs. 10 :o(
Positive News in in Bold
 
 6.  Year to Date Sales Units up for 2016.  13% cumulative Year to date.  Year to date dollar volume is 27% 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 10% from last month;  and 17% lower than last year at this time.  Here come higher prices!  Charts C16 & C17

12.  New Construction inventory is up. 283 from 262 last month.  Last year at this time there were 340 new homes for sale.  Record high of 865 in March 2007.  Record Low 9/11 at 145.   Chart C19

13.  Resale inventory is up – 708 from 640 last month.  All time high was 2149 in July of 2008.   Last year at this time there were 850 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

 Note:  Webb Chart Subscribers receive the full version each month.  To subscribe go to http://www.jerewebb.com
 




Treasure Valley Webb Real Estate News

8 06 2016
ADA County (Boise, Meridian, Eagle, Star & Kuna)
1.  Sales are UP 13% from last month, 15% up from this same month last year.  Watch this last number especially – as we chew through the existing inventory and buyers are forced to look at the reality of  NC Pricing, what will happen then?   % won’t be able to buy at the higher price so I wouldn’t be surprised to see this decline. . .by our July class we should know more. . . Chart A3 
 
2.  Pending sales are UP 8% from last month, up 25% from a year ago.   Chart A47, A48, & A49.
 
6.  Year to date sales units up 15% from a year ago Chart A4.  The year to date dollar volume is 22% higher this year.  Higher prices will continue in 2016.  Chart A6.  
7.  Median Price up for a home sold this month  – $242,500.  This is 1% up from last month; and a 6% increase from this same month last year!    Chart A10
10.  Resale Affordability unchangefrom 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%.  Interest Rates continue at record lows! Charts A39, A40, and A41.
 
11.  Inventory is up 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
 
12.  New Construction inventory up. – 786 from 750 last month.  Last year at this time there were 765 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
 
13.  Resale inventory is up. – 1274 from 1154 last month.   Last year at this time there were 1613 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.  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 
14.  Single Month Measurement of Inventory Supply is down.  This month’s 2.0 from 2.1 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 – 5/16 at 2.0!  Chart A26.
 
18.  Final Sales Discount is up.  From the last asking price to final sales price, .4% from .3% last month.  Record low – 04/16 .3%.  Last year at this time it was .8%.  Chart 43
 
19.  Future Business Forecast is above 100%.  A54.  112%  – so closings next month will be above this month’s level.  Last year at this time it was 104%.
 
 
MAY 2016 Inside Scoop – Canyon County
 
1.  Sales are up 6% from last month.  Comparing this month to the same month last year there is a 13% increase.  Chart C3
 
2.  Pending sales are up 6% from last month.  UP 29% from this same month last year.  Chart C47, C48, & C49.

 

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.

8,9,10.  Not calculated.

11.  Inventory is up 1% from last month;  and 29% lower than last year at this time.  Here come higher prices!  Charts C16 & C17

12.  New Construction inventory is down. 231 from 263 last month.  Last year at this time there were 321 new homes for sale.  Record high of 865 in March 2007.  Record Low 9/11 at 145.   Chart C19

13.  Resale inventory is up – 546 from 506 last month.  All time high was 2149 in July of 2008.   Last year at this time there were 725 resale homes for sale.  No wonder prices are jumping higher!  Watch this!!! 12/05 was the low point in resale inventory at 499.  01/16 new record low at 474!  Now 02/16 sets another NEW RECORD LOW at 451!!! Chart A21

14.  Single Month Measurement of Inventory Supply is down.  This month’s 1.9 from 2.0 last month.  The all time record high was February 2009 of 23.5. This is a new 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 above 100%.  C54.  At 109% this means closed sales will be up next month from this month’s level.  Last year at this time it was 99%.
 
 
 




APRIL 2016 REAL ESTATE HEADLINES FOR THE TREASURE VALLEY

9 05 2016
July 21 Class at Title One
I am looking forward to getting some perspective on what is happening in 2016!
I want to hear from “experienced agents” as well as share insights of my own
Wild and Crazy Market – and most are unaware of the phenomena pictured in the newest charts 
  APRIL 2016 Inside Scoop – Ada County
If you like to keep score 16 vs. 3 :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 17% from last month, 14% up from this same month last year.  Watch this last number especially – as we chew through the existing inventory and buyers are forced to look at the reality of  NC Pricing, what will happen then?   % won’t be able to buy at the higher price so I wouldn’t be surprised to see this decline. . .by our July class we should know more. . . Chart A3 
 
2.  Pending sales are UP 12% from last month, up 19% from a year ago.   Chart A47, A48, & A49.
 
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.  
13.  Resale inventory is up. – 1154 from 1034 last month.   Last year at this time there were 1507 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.  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 
14.  Single Month Measurement of Inventory Supply is down.  This month’s 2.1 from 2.2 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 – 4/16 at 2.1!  Chart A26.
 
17.  Resale Two Month Rolling Average of Inventory Supply is down.  Selling odds, using a “2 month rolling average” for sales is 1.7 from 1.9 last month.  February 2009 set a record high of 15.6. Last year at this time there were 2.4 months of resale inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A32
 




Idaho Real Estate News – Ada County March 2016

29 04 2016
1.  Sales are UP 36% from last month, 12% up from this same month last year.  Chart A3 
 
2.  Pending sales are UP 15% from last month, up 23% from a year ago.   Chart A47, A48, & A49.
 
5.  The dollar volume was UP 35% from last month and 16% up from this same month last year.  Chart A5 
 
6.  Year to date sales units up 13% from a year ago Chart A4.  The year to date dollar volume is 19% higher this year.  Higher prices will continue in 2016.  Chart A6.  
7.  Median Price up for a home sold this month  – $235,500.  This is 0% up from last month; and a 6% increase from this same month last year!    Chart A10
 
9.  Resale Median up this month – $217,000.  This is up 2% from last month; and a 3% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.
 
11.  Inventory is down 1% from last month and 17% 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
 
12.  New Construction inventory down. – 712 from 765 last month.  Last year at this time there were 736 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
 
13.  Resale inventory is up. – 1034 from 994 last month.   Last year at this time there were 1376 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.  Good News for Builders!  Lack of inventory is forcing more new construction activity.  Chart A21
 




ADA County Real Estate News

11 03 2016
 February 2016 Inside Scoop – Ada County
If you like to keep score 13 vs. 6 :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 22% from last month, 14% up from this same month last year.  Chart A3 
 
2.  Pending sales are UP 29% from last month, up 32% from a year ago.   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 1%.  Record High 12/10 at 40%. That makes 2% of the sales “distressed” this month.  Record high was 12/10 at 61%  A distant memory!  02/16 is a new record for the most “healthy” sales month in recent history!Chart A42
 
4.  Short Sales closing success % UP – 11% closed this month.  12/15 high of 23%.  Record Low 11/14 at 9%.  A53.
 
5.  The dollar volume was UP 30% from last month and 23% up from this same month last year.  Chart A5 
 
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.  
8.  New Construction Median price up this month – $299,985.  This is up 5% from last month; and a 2% decrease 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
 
9.  Resale Median up this month – $212,950.  This is up 1% from last month; and a 8% increase from this same month last year.  Record low 01/11 at $126,500.  Chart A12.
 
10.  Resale Affordability improved 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%.  Interest Rates continue at record lows! Charts A39, A40, and A41.
 
12.  New Construction inventory down. – 765 from 829 last month.  Last year at this time there were 725 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
 
14.  Single Month Measurement of Inventory Supply is down.  This month’s 3.0 from 3.5 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.  . .Record Low 12/15 2.2!  Previous Record low 05/13 at 2.3!  Chart A26
17.  Resale Two Month Rolling Average of Inventory Supply is up.  Selling odds, using a “2 month rolling average” for sales is 2.4 from 1.8 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, 1.1% from 1.4% last month.  Record low – 06/13 .6%.  Last year at this time it was 1.5%.  Chart 43
 
19.  Future Business Forecast is above 100%.  A54.  151%  – so closings next month will be above this month’s level.  Last year at this time it was 135%.
 




ADA County Real Estate News

22 02 2016
JANUARY 2012 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 17% from last month, and 13% up from this same month last year.  Chart A3
2.  Pending sales are up 22% from last month, and are up 17% from a year ago.  Chart A47, A48, & A49.
5.  The dollar volume was down 20% from last month and 10% up from this same month last year in dollar volume of sales.  Chart A5
6.  Year to date sales up for 2011  13% more units than a year ago Chart A4.  The year to date dollar volume is 10% higher this year.    Chart A6.  
 
7.  Median Price down for a home sold this month  – $139,000.  This is 5% down from last month; and a 3% increase from this same month last year.   Chart A7
 
10.  Affordability up.  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 10.9%  Charts A39, A40, and A41.
11.  Inventory is Down 2% from last month and 28% lower than last year at this time.  Charts A16 & A17
12.  New Construction inventory down slightly. – 557 from 559 last month –  Last year at this time there were 575 new homes for sale.  New Construction inventory has dropped for 47 of the last 64 months since reaching a high of 1890 September 2006.  Record low was 12/10 at 503.  Chart A19
13.  Resale inventory down. – 1374 from 1414 last month.   Last year at this time there were 2121 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
 
16.  New Construction Two Month Rolling Average of Inventory Supply is up slightly.  Selling odds, using a “2 month rolling average” for sales is 7.9 from 7.8 last month.  February 2009 set a record high of 17.3 months of inventory. Last year at this time it was 10.4.  September 2005 was the peak of the seller’s market at 1.3.  Charts A29 & A30
 
17.  Resale Two Month Rolling Average of Inventory Supply is up slightly.  Selling odds, using a “2 month rolling average” for sales is 3.8 from 3.5 last month.  February 2009 set a record high of 15.6. Last year at this time there were 5.5 months of inventory.  July 2005 was the peak of the seller’s market at .9.  Charts A31 & A32
 
18.  Final Sales Discount is down.  From the last asking price to final sales price, 1.8% from 2.3% last month.  Record low – 11/11 1.7%.  Last year at this time it was 1.8%.  Chart 43
 
19.  Future Business Forecast is way UP from last month.  A54.  144%  – so closings next month should be UP from this month’s level.  Last year at this time it was 148%.