October PTC Index-Great News!

Pioneer Title Company compiles and publishes this PTC index monthly, it provides a concise way of judging the Ada and Canyon County combined real estate market's vibrancy. It is the highest it has been since June of 2009.

Based on a custom weighted algorithm, it combines nine critical measurements of the real estate market into a single, useful number: the PTC Index. To give you some perspective, when the market was at its most active point in 2005, the PTC Index average would have been 225. In January of 2010 we reached a low of 28. Though times have changed, the need for this data is greater than ever.

October 2011

Building Permits	116
New Home Sales	91
Existing Home Sales	688
Refinance	815
Average Sales Price	138973.5
Financial-Bond Market(10-yr Treasury)	2.15
Days on Market	77
Distressed(Short Sales and REO)	3248
Notices of Default	421
PTC Index	132

For reference sake, last month was 120 with a year ago at 121, with the interceding months all having lower numbers.

October brought great news overall within the Treasure Valley real estate market! Notably, refinances were up nearly 32% compared to September most within Ada County. Across the county line, Canyon County experienced a gain of 50% in new home sales while Ada's numbers (79) remained flat. Building permits made a cumulative gain of 10% in the valley with existing home sales falling slightly by roughly 4% from the month prior. Days on market, distressed properties (short sales and REO) fell slightly from 84 to 77 and 3,442 to 3,248, respectively. As expected, Notices of default were the rise, up nearly 30% from September possible due to the fruition of bank-owned, shadow inventories. We expect a sustain uptick in refinances in the coming months with new legislation aimed at helping consumers with underwater mortgages.