Home price growth tapers in Ada, stays strong in Canyon

The Treasure Valley residential real estate market has seen strong price growth in the past year, with median home prices increasing 5.5 percent in Ada County in July compared with the previous year and 13.1 percent in Canyon County, according to the Intermountain Multiple Listing Service.

The summary:

• Ada County home prices were down in July compared to June, per annual seasonal trends, but consumer demand remains high.
• Inventory of existing homes increased compared to last month, but overall, inventory levels are well below consumer demand, keeping prices higher than last year.
• Persistently low interest rates still make buying a home attractive for many, especially with a tight rental market.

For more details, go here and here.

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