Every month the Intermountain MLS releases their market statistics. Its easily the best way to find out what is actually happening in the Boise Real Estate market. And as you know, I share those statistics here from time to time.
Once again I expected inventory levels to start to rise, and once again I was put on the floor because they didn’t rise at all! We had nearly 1,000 fewer homes on the market this April in Boise (there were 2113 homes for sale) than we did in 2010 (3106 homes for sale). AND we had more closed sales; if only slightly 516 this year to 2010’s 506.
I’ve been asked a couple times if new home construction is what’s picking up the slack. That’s a good question, and I look at Boise New Home Construction Statistics for April as well; but the short answer is no, not really. Although new construction might paint a slightly clearer picture of whether or not we’ve “hit the bottom”.
And that’s the question that’s most often asked, are we at the bottom of the market. I don’t know. Still. But, I can say there are some positive signs that we are at least still not going down and down and down! We are four months into 2011 and although that’s not 12 it is at least enough to start to give us some clues.
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