In case you haven’t noticed, real estate prices are on the rise again! They had been falling every year since 2007. That fact has been painfully apparent to anyone trying to sell a home in the Boise metropolitan area in 2008, 2009, 2010 and 2011. Four years in a row of declining home values. And now finally. . . .!
So what is happening? Is this just a brief respite in an otherwise very negative national economic picture? How high will prices go? Should we expect another “bubble”? And how do we know that prices are really up, perhaps it is just a reduction in “distressed” sales that is skewing the numbers?
On July 25 at Title One in Meridian I will be presenting the data to answer these and many more questions. The “Webb Chart Class” will be attended by over 50 of the Treasure Valley’s top real estate agents so there will be a lot of brain power in the room! For more than 10 years I have been publishing “Webb Charts” and doing statistical analysis specifically on this market.
Here are 5 specific market data pointers that the class will be studying on July 25 relative to pricing:
1. The difference between sold units year to date and the dollar volume – 12%.
2. The increase in resale average sold price for the first 6 months of 2012 compared to the same period in 2011 – 11%
3. The increase in resale median sold price for the first 6 months of 2012 – 11%
4. Median resale price for the year 2012 so far compared to the entire year of 2011 – 8.1%
5. Median resale price compared to a 3% trend line since 2000. Where are prices now and where will they go from here? And most importantly, how does this chart look after you have eliminated the “distressed sales?”
Here is a link for more information on the July 25 classes: http://wp.me/pShPn-5J
Jere Webb Idaho Real Estate Blog 