"Look out Beloooow!"
The Boise Real Estate Market saw pending home sales fall 30.64% in May, just after the deadline of the Home Buyer Tax Credit. This shouldn’t come as a surprise to anyone paying attention, even Lawrence Yun, Chief Economist for the National Association of Realtors, said, “In the months immediately following the expiration of the tax credit, we expect measurably lower sales.”
- Oh yeah, follow me on Twitter!
Oddly enough this analysis was tucked quietly and tightly between the paragraphs of a May 4th NAR report that mentioned “pending home sales were on an upswing.”
I’m sure NAR copywriters are digging in to find some more news that can me misconstrued in a another attempt to keep consumers sleepwalking.
Perhaps it would be sufficient to be honest and truthful about the conditions of the market. No matter the news, good or bad, people still have to move: Some get relocated for work, some retire, some get married, some get divorced and the list goes on and on.
Boise Real Estate Stats (May 2010)
All stats cover Ada County and are derived directly from Intermountain MLS
- Pending Sales–As previously mentioned, pending sales fell in May by 30.64%
- Sold Homes–Fell 6.8 percent from April to May, but, sold homes are up nearly 43% over the same time one year ago….not bad!
- Median Price–Down 10% YTD, however, it’s up from April and standing at $155,000
- Inventory–Lower than it has been in previous years, but May brought a 4.29% gain and it sits at 3720 homes for sale in Ada County.
If you’d like a FULL set of the May Statistics for Boise & Ada County Real Estate complete the short form and you’ll get access to them INSTANTLY!
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{ 5 comments… read them below or add one }
Seems like a number game. For every good set of numbers bad ones follow and the other way around. I wonder that trend of 3 to 6 months looks like. Being in Canada I have no real knowledge about your tax credit program that was just shut down but it seems like it was great thing that kept industry in as much positive as it could considering what the whole was going through.
Good article, liked reading it. Nice to see that you have updated the real estate stats. Real estate business is very good and you can earn more money through it.
I think it’s all a numbers game. I liked the article you have come up with along with all the information and data, very useful! I will continue to check your site for more helpful posts, thanks
It really is not surprising that there has been such a dramatic drop in house sales. Unfortunately this may be the way of things to come for quite some time. Possibly for 3-5 years down the line. I know that when I went sell my property in London it was on the market for 8 months and it only shifted because I dropped the asking price. I was nearly left with an outstanding balance on my mortgage! Lets all hope things improve soon
Great article and has more information. It’s clear that real estate business is very good and you can earn a lot