The PTC Index • April 2022

The real estate market remained relatively steady for the month of March with a strong showing of 391 points on the PTC Index.

New home sales increased three percent from February yet posted a decline of 14 percent in the year-ago period.

Existing home sales had an impressive 35 percent increase in March versus February and were about 48 percent higher from this time last year.

Building permits remained steady in March but are down 50 percent from a year ago.

Tight housing inventory has again pushed the Ada/Canyon average sales price up nearly three percent from the month prior landing at $587,739. This represents a 23 percent increase in the average sales price of $476,818 from a year ago. Ada County’s average sales price was $662,538 and Canyon County’s average was $512,940.

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.