The Treasure Valley real estate market in December 2023 witnessed notable trends across various indicators, providing stable insights into the region’s housing landscape with the PTC Index landing at 176 points.
New Home Sales
New home sales remained resilient on a monthly basis, up eight percent compared to the previous month; compared to the same month in the previous year, there was a decline of 16.4 percent.
Existing Home Sales
Existing home sales also saw a decline of 17 percent in December versus November; units are down compared to a year ago by about 16 percent.
Building Permits
Building permits experienced an upswing, rising by 13.8 percent from the previous month. The surge in building permits suggests a strong emphasis on new construction, potentially addressing housing demand in the Treasure Valley.
Average Treasure Valley Sales Price
Despite fluctuations, the overall real estate market demonstrated stability, with a modest upswing in average sales prices with an increase of about three percent from December to November.
Check out these additional market snapshots for our other markets…
The PTC Index is a monthly measurement of the vibrancy of the Treasure Valley real estate market. Based on a custom-weighted algorithm, it combines nine critical measurements of the real estate market into a single, useful number: the PTC Index.