Ada County home prices going up, good sign for housing market

What does the future hold?

BOISE - The Treasure Valley's red-hot housing market is showing signs of cooling down.

Ada County home prices reached a new record last month, but the pace of the price increases isn't quite as blistering as we saw a year ago.

A slowdown might not sound like great news if you're looking to sell, but in this case, experts say that's not the case.

"I don't have a crystal ball," the president of Boise Regional Realtors, Katrina Wehr, said. "But what we're being told and what we see based on data is that I don't see it changing any time soon. I see it continuing maybe leveling out a little more."

The Boise Regional Realtors say the median sale price for a home in Ada County as of August 2017 was $278,000. That's up almost 10 percent from a year ago.

Wehr says usually when you see high spikes in the market they are backed by unhealthy occurrences. For example, think of the recession. The supply and demand wasn't balanced, there were more homes than buyers.

"Today we have a healthy supply and demand situation where houses are rising in price due to demand so they're not over supplied," she said.

But are the houses actually there? Wehr says yes.

"There's new inventory coming out on the market every single day, it's just selling faster, " she said.

The booming economy plays a role in this trend.

"We have increased employment, we have a great economy here in Boise," she said. "If housing isn't good you feel it everywhere."

© 2017 KTVB-TV


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