With January in the books, the Treasure Valley real estate market has yet to show signs of an upswing in activity. Nowhere is this more evident than the latest PTC Index, which posted a six-year low of 162 points this month.
New Home Sales
New home sales decreased in January about eight percent versus December. Compared to a year ago, they are down about five percent
Existing Home Sales
Existing home sales fell by 21.3 percent in January from the month prior. Compared to January 2022, they are down 41.8 percent.
Building Permits
Building permits in January rose by 58.5 percent from the month prior. Compared to a year ago, they are down 78.5 percent.
Average Treasure Valley Sales Price
Lastly, the average sales price for homes in the Treasure Valley landed at $527,250 – a decline of about two percent from last month. Ada County posted at $618,836 for its average sales price, while Canyon County landed at $435,664.
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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.