We’re excited to bring you our newest “Market Stat Sheets.”
Same great data, quicker reads.
Looking for local analysis, like our previous press releases? You’ll find them as smaller, more digestible snippets throughout the Market Stat Sheets. Take a look, wander around, and let us know if you have any questions!
Mortgage rates hit 7% nationally on October 28th (6.893% in Idaho). This is the highest interest rate seen since the start of the summer. These high interest rates may result in lower resale inventories in different areas because of consumer reluctance to sell their current home and upgrade to a new home with a new mortgage at a higher rate. First-time home buyers may also be reluctant to lock in a mortgage at current interest rates, especially since continued rate decreases by the Federal Reserve are expected as the year ends.
In some counties pending sales have declined, this may be because of decreased real estate activity taking place this month. This decrease in activity has been seen historically around election day because of market uncertainty.
| Location | Unemployment Rate Sept. 2024 |
| Ada County | 3.6% |
| Canyon County | 4.1% |
| Elmore County | 3.8% |
| Gem County | 4.5% |
In October, Idaho’s unemployment rate was 3.6%, remaining constant from September (most recent county data shown for September).
Amazon opened a 165,000 square-foot warehouse in northeast Nampa in October and aims to bring same-day delivery services to the Treasure Valley. This new warehouse employs 400 people with additional job opportunities to come.
In Q3 2024 (July 1-Sept 30th) the average down payment in Idaho fell by 19.10% since the beginning of the year. Analysts think that the rush of migration to places like Idaho that occurred during the pandemic has cooled off significantly. This means that the competition for homes has decreased and potentially the need for buyers to offer higher downpayments.
Review our Market Stat Sheets for county-specific market analysis.
Other Real Estate News
- USA Today | Inflation is Trending Down. Try Telling That to the Housing Market
- Yahoo! Finance | The Commercial Real Estate Market is in a ‘Normalization Period’
- REALTOR.com | Mortgage Rates Just Made ‘Biggest Leap in the Past 6 Months’: Our Economist Breaks Down What It Means for the Housing Market
- US News & World Report | Will Fall Bring Relief to the Housing Market?
Please note: Some news outlets may protect their content with paid subscriptions. While we try to refrain from sharing articles that may not be accessible to everyone, we may share them if important to the industry.
Additional information about trends within the Boise Region, by existing and new construction, are now available here: Ada County, Elmore County, Gem County, and Condos, Townhouses, and Mobile/Manufactured Homes Market Reports. Each includes an explanation of the metrics and notes on data sources and methodology.
Ada County
Canyon County
Elmore County
Gem County
Condos…
Download the latest (print quality) market snapshot graphics for Ada County, Ada County Existing/Resale, Ada County New Construction, Elmore County, and Gem County. Since Canyon County is not part of BRR’s jurisdiction, we don’t publicly report on Canyon County market trends. Members can access Canyon County snapshots and reports in the Market Report email, or login to our Market Statistics page. Boise and Owyhee County snapshots can also be accessed on our Market Statistics page.
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The data reported is based primarily on the public statistics provided by the Intermountain MLS (IMLS), a subsidiary of Boise Regional REALTORS® (BRR). These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS and BRR provide these statistics for purposes of general market analysis but make no representations as to past or future performance. If you have questions about this report, please contact BRR’s Director of Communications Taylor Gray at 208-947-7238. For notes on data sources, methodology, and explanation of metrics, visit boirealtors.com/notes-on-data-sources-and-methodology.
If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.
Boise Regional REALTORS® (BRR), a 501(c)(6) trade association, represents real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.
“REALTOR®” is a federally registered collective membership mark which identifies a real estate professional who is member of the National Association of REALTORS® (NAR) and subscribes to its strict Code of Ethics.
