Its the beginning of May which means April’s real estate market statistics are out from Intermountain MLS! And things are looking better and better! I know, I know… of course the real estate agent is saying that but things are getting better!
The big news is we finally saw inventory bump up for the first time in over 16 months in Boise! Not by a huge amount, only 90 more homes than we saw this time last month. But still an increase, which is a good sign that we are starting our journey to a more “normalized” market. Of course, we still have about 34% fewer listings than we did in April of 2011.
New Construction is Hot
Now, we are definitely seeing an uptick in buying across the board for both re-sale (existing homes) and new construction; but it is in New Construction where we are seeing a real spike in activity!
Month over month, we saw a 26% increase of closed sales (transactions that finished) and a 14% increase in pending sales (contracts that were accepted)! But year over year, we saw a 44% and 52% increase respectively!!
New construction is hot right now!
Which reminds me, the 2012 Boise Parade of Homes is well underway right now. Always a great time to see what local builders are doing and see some fantastic homes!
Market Statistics for April 2012