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Lower Housing Inventory in Canyon County

Details
Category: Market Updates Market Updates
Published: 07 November 2009 07 November 2009
Hits: 12876 12876

Lower Inventory of Homes Offers Greater Opportunity for Canyon County Home Owners...

Housing inventory began to decrease during the 2nd quarter of 2005, just as the boom was beginning and prices began to increase. In 2006 we watched inventory increase while sellers were catching on to buyer's demand and increasing sales prices.

in 2007 & 2008 inventory levels of single-family homes continued to increase throughout both years, trailing a bit downward toward the holiday season.

2009 inventory has been trailing as a whole, in spite of the many short sales and foreclosures that are available and is currently lower than the last three years at this time.

Canyon County Home Inventory

  • Inventory is plentiful, but dropping
  • Prices are low
  • Interest rates are low
  • Tax credit incentives are better than ever

Why wouldn't you want to buy a house in this market?

Recent absorption rates showed that there has been over a 20 month's supply of homes available in Canyon County, Idaho.  Current inventory and recent sales rates show there is now less than a 10 month's supply of inventory.

My research shows that 6 month's of inventory teeters on the edge of a market shifting from a "Buyer's Market" to a "Seller's Market" in any given price range.

There are many niches in the market, not only in price, but of individual property criteria, such as 4 bedroom homes, non-short sale homes, acreages, certain sizes and age, etc.

Depending on your property price & features, you may be in somewhat of a seller's market. Contact Don Wixom with RE/MAX Executives, your Nampa Realtor, to have a market analysis conducted for you.

Homes in Nampa are more affordable since the early 1970's.  I anticipate interest rates remaining somewhat low throughout 2011 and maybe beyond, however, I believe consumer confidence will increase in the Spring of 2010, causing a slite increase in home prices; nothing huge, like in '05 & '06, but we should experience a little more "normalcy"...