Boise Real Estate Market Trends Update

Posted by: admin  :  Category: Buying Boise Homes, Housing Market, Idaho Real Estate Price Trends, Local Boise Market Update, Local Boise Price Charts, Market Trends, Market Updates, Real Estate, Real Estate & Housing, Selling Boise Homes

Real Estate Market Trends Update

Last month, Boise was named the “Best City to Move to in 2014” because of our ‘Median Income” “Home Value Growth” and “Home Affordability”.

That said, a look at the latest real estate market trends shows pent up demand for the most affordable homes – those priced below $160K. As more homes in that category come online, some of the trends showing in our “up and down market update” also may adjust a bit, including year-to-date sales.

Until August, we were almost keeping up with the strong year-to-date sales trends from 2013. It’s not too late to match last year though, things slowed significantly in the last quarter of 2013. We have strong potential if homes priced under $160K, open the door and let first time home buyers into the market.

I’ve personally witnessed some decent negotiating power lately – more than in recent previous months. And, in situations where multiple offers are probable, the power of making business personal has gone a long way. Introducing sellers to their buyers through photos and letters has sparked interest in passing along their home to those who will adore it as much as the owners, who often are sad to let it go.

In summary, the homes market trends in Boise homes have been going up in price but down in sales. We’ve been tracking interest as well, expecting that very subtle increases eventually will add up enough to affect buying power. So far, interest is fine.


Real estate market trends in Boise, according to the Ada County Association of Realtors.

Your Up and Down Market Trends Update

Up!Upward Market Trends

  • Days on market – one more than last year, six more than last month.
  • Sales - home sales priced above $160K are up (and there is a demand for homes priced lower).
  • Median home prices – Our August-to-August and year-to-date home prices are up 9.5% and 8% respectively.
  • The number of houses available for sale is up 2% from last month and 20% from last year.
Source: Ada County Association of Realtors

Down! Market trends down

  • Pending sales have lagged behind last year for 13 months in a row.
  • Sales between July and August were down 11%. Typically there is an increase in sales between these months. Last year, the increase was 8%.
  • Overall home sales- due to the drop in sales of homes below $160K, single family home sales are down year-to-date and when compared to last year at this time.
  • New homes sold – new homes sold are down 25% from last year and 25% from last month.  
  • Existing home sales -existing home sales are down 8% from last year.
Source: Ada County Association of Realtors

Static. Static Boise real estate trends

  • Inventory – at 3.8 months, inventory is static compared to last month, with homes priced below $160K being in shortest supply.
  • Growth was consistent across the price categories, with the exception of homes priced above $250K.

Thanks for reading and allowing me to keep you up-to-date on your local market price trends, housing trends and market indicators. Please don’t hesitate to contact me for a specific home pricing evaluation.


Shana Moore, Your Local Boise Real Estate Professional and source of real estate market trends in Boise Idaho



Shana Foster Moore

Your Local Real Estate Market Trends Connection

Market Update

Posted by: admin  :  Category: Boise Market Trends, Housing Market, Local Boise Market Update, Market Trends, Market Updates, Real Estate, Real Estate & Housing

The numbers are in

Two months in a row we’ve seen double digit increases when compared to the previous year. Inventory also has been a big topic lately.

While inventory doesn’t historically increase until April, we reversed four consecutive months of decreasing inventory when 2,044 homes were on the market in January.

Now here’s something all this data doesn’t quite say. Right now, I have multiple buyers waiting to buy and sellers waiting to sell. My next blog will encourage you not to wait, but rather to beat the rush.

But now, back to your monthly numbers!

While sales historically drop when the calendar rolls over and January hits, this year they went up, however so did the days on market. This is odd, however with only one month of higher-than anticipated days on market, it’s too soon to suggest any sort of a trend. We’ll keep you posted as future data points present themselves.

Up and Down Update


  • Single family home sales increased 10% when compared to January 2013.
  • Days on market! In January, homes were on the market for 70 days, compared to 59 in December and 53 last January.
  • The 99 new home sales created a 27% increase from January 2013.
  • Existing home sales, at 309, were up 6%.
  • Total sales were up 29% over December’s (reversing typical trends).
  • Distressed sales, at 12%, were up 2% from last month, but down 13 % from last year (not to be mistaken for distressed inventory/listings).
  • The median home price, at $208,190, was up 12% from January 2013.
  • Inventory was up slightly, showing 4.2 months and 2,044 homes in January.
  • Down payments were up. More buyers are puttin more than 20% down.


  • Pending short sales, however pending REOs went up.
  • Distressed inventory went down 1% between December and January, 2014.
  • Sales to first time buyers decreased to 31% in 2013.
  • Home building dipped in January according to the Department of Commerce. That makes sense. Brrr!
  • The Fed’s monthly bond purhcases, which push down longer-term interest rates, according to KTVB.

Thank you to the Ada County Association of Realtors for providing these wonderful numbers! Check back next month for more on my interpretation and vantage point.

Providing you real estate market trends
Your Local Boise Real Estate Professional

Interest Rates Chart

Posted by: admin  :  Category: Buying Boise Homes, Financing, Lending, Real Estate, Real Estate & Housing

Interest Rate Update

It’s a great idea to keep your eye on interest rates for so many reasons, but especially if you’re keeping your eye on the housing market.

National rates are still really good – in the 4′s, for a 30-year-fixed loan.

Mortgage rates 30-year fixed 15-year fixed 5/1 ARM 30-year jumbo
2/12/2014 4.48 3.53 3.32 4.50
2/5/2014 4.43 3.50 3.27 4.47
1/30/2014 4.50 3.56 3.37 4.54
1/22/2014 4.56 3.61 3.42 4.63
1/15/2014 4.57 3.62 3.40 4.65
1/8/2014 4.64 3.69 3.46 4.73
12/31/2013 4.69 3.73 3.52 4.72
12/24/2013 4.63 3.70 3.43 4.67
12/18/2013 4.58 3.63 3.33 4.6
12/11/2013 4.55 3.6 3.34 4.55


I recommend that you find local rates, which may run a little lower than the averages above, and get pre-approved, through a local resource. I like Dave Rusk at ICCU for his service, as well as the unbeatable rates he consistently provides. To compare, today’s rates at ICCU are listed at 4.375 for a 30-year fixed loan.

Keep in mind, interest rates affect your monthly payment, as well as the house you can afford. I always suggest checking into a pre-approval even if you’re still waiting for your credit to improve. It’s the first step in the process, and one that good lenders are eager to take with you, even if you’re “not really serious right now.”

Once you are serious, you can compare rates between a mortgage broker (who has access to loans from many different banks) and Idaho Central Credit Union (ICCU) or your bank of choice. Banks underwrite loans in-house and aren’t sourcing them, like mortgage brokers, although it’s common for them sell the loan once it’s in effect.

With a few years between us and the big crash, many people are closer than they may think to being “approvable.” As spring approaches, don’t write-off your ability to buy until you’ve verified your options. My previous, in-depth blog entry reveals some of the waiting periods following issues with distressed properties.


Shana Moore, Your Local Boise Real Estate Professional


Shana Foster Moore

Your local, Boise Real Estate Professional

Renters Vs. Owners – Who’s Really Better Off?

Posted by: admin  :  Category: Boise Market Trends, Market Trends, Real Estate, Real Estate & Housing

Renters Vs. Owners – and other interesting Boise and Ada County Demographics.

When it comes to the percentage of their income that goes toward housing, owners are better off than renters. At least according to Census data, which reports about 50% of renters put less than 30% of their income toward housing costs, compared to 66% of homeowners who have the majority their income leftover after the housing-related bills are paid.

This Census data from American Communities Surveys suggests that about half of local renters would meet a common rental criteria – that monthly income must be three times the rent. Two-thirds of owners would meet the same criteria.

The catch. Home repairs are not included in the lists of costs. The costs included are mortgage, taxes, insurance and utilities. Let’s not forget that renters have the fortune of calling landlords when repairs are needed. This surely would sway those numbers a bit. It also provides renters with the advantage of being less prone to expensive surprises, if they carry renter’s insurance. Without renters insurance, which also isn’t included in the housing costs, a water heater leak could become a big expense for a renter, in terms of damaged material goods. I recommend renters insurance!


Know Your Market

Delving Into the Demographics of Ada County

  • Median rent in Ada County $806 (compared to $790 the two years prior and $860 before that).
  • Rental Vacancy Rate 3.7%
  • Homeowner Vacancy Rate 1.6%
  • 161,876 housing units with a median of 5.8 rooms, with three bedroom units being the most popular (46.9% of houses)
  • Population of people 16 years of age and older – 315,225 in Ada County and 171,487 in Boise
  • 65% of homes are owner-occupied and 35% are renter occupied.
  • 77.5% have a mortgage (of the 100,000 owner-occupied units)
  • The median mortgage is $1,295
  • Average household size is 2.52-2.64, with the higher number representing owner-occupied units
  • It appears that moving has expedited – more people moved within the past several years in 2012 than in the two years preceding
  • Median earnings for full-time workers $36,000- $48,000 (depending on gender)
  • Median household income and benefits $53,909 in Ada County (slightly lower with just Boise)
  • Mean household income and benefits $69,768
  • Median family income 63,736
  • Mean family income 81,963
  • 20 minutes – the mean travel time to work
  • 4.8% are unemployed, 62.3% are employed and 32.7% are not in the work force
  • 12% of people and 8.4% of families are below the poverty line

Data source


If you filled out the ongoing and longer Census survey that supplements the ten-question decennial Census, this was your 2012 data at work. Thank you for populating my latest Foster Boise Blog post with your efforts! PS – way to make it this far, through all that data!

Providing you real estate market trends
Your Local Boise Real Estate Professional

The average rent in Ada County Idaho is $806, however this is not for a specific size or number of bedrooms.