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Treasure Valley home prices, sales teeter

Among new homes for sale for under $200,000 recently was this 1,500-square foot, three-bedroom, two-bath CBH home in Kuna last December.
Among new homes for sale for under $200,000 recently was this 1,500-square foot, three-bedroom, two-bath CBH home in Kuna last December. kjones@idahostatesman.com

Sure, home sales in Ada County were up 18 percent in September over year-ago levels, and the median price up 7 percent. But the latest figures may indicate a slowdown: The typical autumn decline in home sales began this year in August, a month early, says Jill Giese, owner of Giese & Associates in Boise. Prices dipped slightly.

The strong Canyon County market has finally paused, too. The median price rose from January through July before falling in August and September.

Giese, a Keller Williams agent, doesn’t know if this is the start of a trend. But the company is warning agents that the market is due to level off as part of a seven-year cycle.

“I have Keller Williams friends around the country who are already seeing downturns,” Giese says. “It’s not happening here yet, but it probably will.”

This story appears in the Oct. 19,-Nov. 15, 2016, edition of the Idaho Statesman’s Business Insider magazine. Click here for the Statesman’s e-edition, which includes Business Insider (subscription required).

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