Today is Windermere Community Service Day. Staff and agents in Windermere offices across the country are spending the day volunteering in their communities and we’ve been at Whitney Elementary…..but more on that later! We still wanted to post our monthly real estate statistics for Ada and Canyon County. In this real estate market with limited inventory, there are challenges and opportunities for buyers and sellers. Windermere Powerhouse Group agents are experts here to assist you with strategies to reach your real estate goals. Contact us if you’re interested in learning more.
For detailed information on Ada and Canyon County Existing and New Construction check out the reports below.
The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.
Job growth in Idaho continues to moderate. The state added 19,400 new jobs over the past 12 months, representing an annual growth rate of 2.7%. That said, the growth rate remains well above the national average of 1.7%. In March, Idaho’s unemployment rate was 2.9%, matching the level seen a year ago. The state remains at full employment, and it’s worth noting that the employment rate remained below 3% even as the labor force rose by 2%. This suggests the economy remains very strong as there are still job openings to accommodate new workers. Idaho continues to outperform the nation in terms of economic vitality and will continue to do so for the balance of the year.
- 4,440 homes were sold during the first quarter of 2019, representing a drop of 4.3% compared to the first quarter of 2018.
- In Northern Idaho, Shoshone County was alone in experiencing sales growth, with an increase of 12% over the first quarter of 2018. There was a substantial drop of more than 15% in Bonner County, but this is a small area, making it prone to significant swings. In Southern Idaho, we saw modest sales growth in Payette County, modest declines in Canyon and Ada counties, and significantly lower sales in the small area of Boise County.
- Year-over-year sales growth was positive in just one Northern Idaho market, and only one of the Southern Idaho markets saw sales rise relative to the same period a year ago.
- When compared to the first quarter of 2018, the number of homes for sale was lower across the board in Northern Idaho and in most Southern Idaho market areas. It’s likely that this contributed to the decline in sales.
The following analysis of select counties of the Idaho real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact our office.
Job growth in Idaho slowed in the fall of 2018 but the state added 13,200 new jobs over the past 12 months, representing an annual growth rate of 1.8%.
In November, the state unemployment rate was 2.6%, down from 3% a year ago. The state remains at full employment, which explains why we are seeing a slowdown in employment growth. I fully anticipate that the state will return to above-average growth in 2019 and continue its trend of adding jobs at well above the national pace.
HOME SALES ACTIVITY
- 5,308 homes were sold during the fourth quarter of 2018, representing a drop of 3% compared to the final quarter of 2017. Continue reading…