Over the past week, the economic data continued to reflect a stronger than expected recovery following the partial shutdown due to the pandemic. Mortgage rates held relatively steady near-record-low levels.
The major economic reports have broadly revealed a rapid rebound in June and July from the historic weakness seen in April and May, and recent data from the services sector continued the trend. The Institute for Supply Management (ISM) Services Index rose to 58.1, which was well above the consensus forecast of 55 and the highest leve...
By Breanna Vanstrom, Chief Executive Officer, Boise Regional REALTORS®
Following two consecutive months of year-over-year declines, home sales in Ada County were up 3.4% in June 2020 compared to June of 2019. Pending sales, or properties with an acce...

By Breanna Vanstrom, Chief Executive Officer, Boise Regional REALTORS®
For the second consecutive month, home sales in Ada County were lower than the same month in 2019, as REALTORS® and consumers heeded Idaho's stay-home order for any non-essential transactions.
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Like all industries, the real estate world is in unchartered territory when it comes to navigating the COVID-19 pandemic. Flexibility and adaptation are key. As Idaho begins to reopen, what might we expect in the housing market?
Two significant indicators of real estate market activity – numbers of new listings and pending sales – show clear increases since May 1st, when "Idaho Rebounds" began.
According to data provided by the Intermountain MLS, 125 new listings were placed on the market on May 1st – the highest number in any one day since March 20th, before the "Stay in Place" order was issued in Idaho. Additionally, the number of accepted sale contracts jumped to 79 on May 4th, which was the highest number of new pending sales since March 9th.
These trends cou...