Weekly Market Update 7/26/10

The number of pending sales on the market decreased again this week in Canyon County and in Ada County. It was a 2.1% decrease in Canyon County and a 3% decrease in Ada County. The number of homes on the market in Canyon County increased this week by 2.2% and increased by 0.7% in Ada County.

We should see things begin to pick up some now! The latter part of July is normally the bottom of our usual summer slump. August is normally the better summer month with September being one of the top months of the year!

-Craig Panike, Broker

Weekly Market Update 7/19/10

The number of pending sales on the market decreased again this week in Canyon County but increased in Ada County. It was a 3% decrease in Canyon County and a 5.5% increase in Ada County. The number of homes on the market in Canyon County decreased this week by 0.7% and increased by 0.6% in Ada County.

While Canyon County had another decrease in pending sales it was good to see that Ada County had a fairly good jump in pending sales!

-Craig Panike, Broker

Weekly Market Update 7/12/10

The number of pending sales on the market decreased again this week in Canyon County but increased in Ada County. It was a 3% decrease in Canyon County and a 1.4% increase in Ada County. The number of homes on the market in Canyon County increased this week by 0.14% and increased by 1% in Ada County.

This week is showing signs of the market leveling out as I had expected. I think we will see it continue to level out now and start to slowly improve.

-Craig Panike, Broker

Mortgage Bonds Boom Drives Rates Down

Residential mortgage bonds backed by the U.S. government have become a safe haven for investors again, helping to drive mortgage rates to record lows. The average interest on 30-year fixed loans fell this week to 4.58 percent, down from 4.69 percent a week ago, reports Freddie Mac.

With homes prices at an all time low and interest rates at an all time low it is a perfect time to buy!

Source: The Wall Street Journal, Mark Gongloff (07/02/10)

Weekly Market Update 6/28/10

The number of pending sales on the market took another big hit this week by decreasing quite a bit. It was a 6.5% decrease in Canyon County and 8.1% decrease in Ada County for the week. The number of homes on the market in Canyon County increased this week by 1.1% and increased by 0.7% in Ada County.

It appears that the decrease in pending sales is due to buyers withdrawing their offers on short sales because they are tired of waiting. It also appears that some of the homes are going to auction before the short sale process is completed.

-Craig Panike, Broker

Weekly Market Update 6/21/10

The number of homes on the market with pending sales decreased again this week. It was a 2% decrease in Canyon County and 4.2% decrease in Ada County for the week. The number of homes on the market in Canyon County decreased this week by 1.5% and increased by 1.1% in Ada County.

I think we will see the pending sales start to level out here in the next week or two and the number of homes on the market stay about where it is at now.

-Craig Panike, Broker

Weekly Market Update 6/14/10

The number of homes on the market with pending sales continues to decrease. It was a 4.8% decrease in Canyon County and 7.1% decrease in Ada County for the week. The number of homes on the market in Canyon County increased this week by 2.3% and increased by 1.7% in Ada County.

We are still experiencing a weak market but it seems to be holding steady at this point and not getting worse. Overall, with a little variation here and there, we have been running relatively flat. I believe it will remain this way until next summer.

-Craig Panike, Broker