July Home Sales

Written by Administrator

The Idaho Business Review offers great articles on area activity & this following article is no exception:

July 2008 home sales rise in Canyon County, fall in Ada County

Tuesday, August 26, 2008

by Dani Grigg

The national rise in July sales of both new homes and existing homes is reflected in Canyon County but not Ada County, according to numbers from the Intermountain Multiple Listing Service.

Nationally, the number of new homes sold in July surprised economists, who had been predicting a fall from previous months. The number increased by 2.4 percent over June, but was down 35 percent from 2007. The dropping median sales price helped encourage sales; it was down 6.3 percent nationally from June.

Canyon County sold a few more new homes in July than in June of this year, increasing by 3.2 percent (though down by 15.6 percent from last year). Ada County’s new home sales dropped by 15 percent between the two months and by 27.7 percent from last year.

In the existing home market, the number of homes sold nationally rose 3.1 percent since June, which was the largest rise in 17 months. The number of sales dropped 13.2 percent from last year, and the median price dropped 7.1 percent. Canyon County also saw a slight rise in the number of existing homes sold, going from 139 to 142 (up 2.1 percent). But the number is still down 42 percent from last year.

The number of existing homes sold in Ada County fell again, dropping from 395 to 372 (down 5.8 percent from last month and 24.2 percent from last year). New home prices rose slightly between June and July in both counties (up 1.7 percent in Canyon County and 0.8 percent in Ada County).

Existing home prices rose in the same period by 0.8 in Canyon County percent and fell by 0.9 percent in Ada County.

If you're looking to buy a home, NOW is the time! Pick up the phone and schedule an appointment with Don Wixom to review your needs and establish the correct strategy to buy your home.

If you want to sell your home in this market, there are a couple of key factors you must consider. Call Don today for a free consultation and home evaluation! (208) 880-5039