Ada County Housing Update - Resale Only
With the winter cleanup of unsold inventory complete, we are entering the year with a low level of unsold inventory up to $750,000 where 82% of sales activity takes place. Additionally, a low number of new listings come onto the market during January and February. With this as a backdrop, we anticipate a strong Sales Activity Intensity™ of new listings going under contract within the first 30 days.
SALES ACTIVITY INTENSITY™ SCALE
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Housing Update - Resale Only
KEY MARKET INDICATORS JANUARY 2023 (DECEMBER RECAP)
Although the 2022 housing market has experienced a major intensity adjustment, the amount of unsold inventory
is currently low in the more affordable and mid-price ranges where more than 80% of sales activity takes place.
The start of the new year will be the low point for unsold inventory.
THE CURRENT HOUSING MARKET IS NOT LIKE THE GREAT RECESSION OF 2008
With fewer buyers looking to purchase homes, there are fewer homes coming onto the market which is leading to the shortage/low level of unsold inventory especially in the more affordable, mid-price+ range of homes. Heading into the spring market, we will increase one level of hotness of Sales Activity Intensity™ for new listings before the intensity settles down pre-summer when we can expect to see a higher number of new resale listings coming onto the market. Remember, it’s okay to buy and sell within same market timing.
Current housing market: