If you like to keep up to date with the real estate market here in Idaho you might want to take a look at the PTC Index. Pioneer Title has created a monthly resource that depicts how the real estate market is doing here in Boise, Idaho and surrounding (Treasure Valley) areas.

They have created a weighted algorithm that generates a single number that reflects the market. The data is pulled from nine different resources which includes; building permits, existing home refinances, average home sales price, days on the market, new home sales, the 10 year Treasury yield, distressed (which is short sales and Real Estate Owned) as well as notices of default.

As of April the PTC Index number was 197. You might be wondering what exactly that means? Back in 2005 when the market was strong the PTC Index number was 225. In January of 2010 we saw this number fall to 28.

Sales are still increasing. Existing homes sales increased another 21% from March. Notices of Default dropped 3.3% from the month of March which brought the total amount to 96. This was the first time in recorded history of the PTC Index that NOD counts fell below 100 in a single month.  Back in March of 2010 Notice of Defaults reached a high of 949 filings.

New home sales were slighting lower than March as well as from last year. However, building permits were up 14% from March. We talked about some of this growth in our last blog regarding home values on the rise. With new construction happening in the Treasure Valley we may see this reflect new home sales increasing. It will be interesting to see if these conflicting trends even out in the upcoming months.

In a nutshell. Things are continuing to look good for the Real Estate Market here in Boise, Idaho and the surrounding areas.  Meridian, Idaho has experienced high growth with new constructions, you can read about those numbers in our earlier blog posts as well.
If you would like to keep up to date with Boise, Idaho real estate via the PTC Index you can find it here.