Falling Rates, Fewer Homes, Rising Demand Sets Stage for Treasure Valley Home Sellers
Posted by Lisa Kohl on
Falling mortgage rates are drawing buyers back to the Treasure Valley housing market, where a dwindling supply of homes is fueling intensified competition. Demand has increased across all price points, with properties below $500,000 experiencing particularly fierce competition, often leading to bidding wars.
Despite growing interest from homebuyers, the market has fewer homes available now than last February. Currently, 1,775 homes are for sale in Treasure Valley, representing a 10% yearly decline.
In January, the median house price in Ada County rose by 5.8% year-over-year, representing the largest annual gain since August 2022. Median home prices in Canyon County and Boise have also increased, showing a 1.1% and 1.4% rise, respectively.
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