In December 2014, single-family home sales totaled 597, an increase of 3.5% from December of last year. For the Boise housing market in 2014, total sales dropped 2.5% from 2013; 7,764 homes were sold compared to the previous year’s 7,964. In 2014, a total of $1.91 billion in real estate was sold, compared to to $1.85 billion in 2013.

Total Days on Market totaled 66 for the month, an increase of 9 days from the previous month. For this same time last year, Days on Market totaled 59.

New construction home sales totaled 129, a decrease of 5% from 2013. Total sales for existing homes were 468, an increase of 6% from December 2013.

Pending sales at the end of December were 712, up 4% compared to December 2013. Pending sales are our best…

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Vacancy rates in and around Boise moved up slightly to 3.0% for the 4th quarter, an increase of from last quarter. The largest increases in vacancy rates from last quarter, were multifamily homes.

Current Rental and Vacancy Rates

In 2013 we saw average rents increase by 7.6%. In 2014 single- family rents alone increased almost 22%. For Q4 of 2014 rental rates increased slightly from last quarter. The increase in rental rates has been in all areas of the rental market, from single family to multifamily.

Although, the rental rate increase was minimal, its very significant. To be able to show an increase in rental rates during the most challenging time of year to rent a home is exceptional. In addition, we have been able to maintain the vacancy…

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