January Ada County Home Sales

January home sales for the Ada County Idaho real estate market continue to show the improvement I have been talking about for a number of weeks now. Sales of single family homes and single family with acreage stand at 515 this afternoon (502 for single family only). We have only sold more than 500 homes in January one other time here, and that was last year. That makes this January the second best on record, despite being substantially lower than last year's 771 top of the boom record. I know the newspaper is going to emphasize the decline, but I would like to emphasize the fact that this is the first month since August '06 that has been "second best"... the last four months have all been below not only 2005 numbers but 2004 as well.

The second encouraging number is the inventory number. This afternoon we have 3888 actives in Ada county, which is the forth month in a row with declining inventory. Couple that with 777 pending sales and I would say that it looks like we have passed the worst of the correction here. That is the strongest pending number we've seen all month (it has been increasing every day), and with the traffic in the new construction subdivisions, and the buyer showings we've been having in resale homes from our office listings, I just have to say it is hard not to be enthusiastic about our real estate market here in Boise!