Home sales up, prices down

POSTED: 09:01 MDT Tuesday, July 15, 2008

by Dani Grigg

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Tags - Ada County, Canyon County, housing market, Multiple Listing Service, real estate

In Ada and Canyon counties, there’s good news and bad news. The good news: the number of homes sold in the second quarter of 2008 beat the first quarter in both counties, according to new numbers from the Intermountain Multiple Listing Service. The bad (unless you’re a home buyer): the average price dropped about 2 percent in the second quarter in each county. At this point, nobody’s expecting this year’s numbers to look better than last year’s, but there is still hope to see signs that the market has hit the bottom and started to turn around, inching up from the previous months. In Ada County, where the first quarter saw 1,102 homes sold, the second quarter’s 1,494 homes sold is a victory – a 35.5-percent rise. And in Canyon County, homes sold increased from 549 to 604. We’ll take what we can get.

5 Comments

Why are lower housing prices bad news? A 2 percent reduction is trivial, based on the fact that almost every house for sale appreciated much more than that. I would personally like to see a much larger correction. The only people getting caught are the ones who look at houses as short term investments. Those looking in the long term are not affected.
Comment By Rob
Tuesday, July 15, 2008 @ 11:36 AM

As a realtor, I can honestly say the prices are down and the interest rates are down too! if you are contemplating buying, GO!
Comment By julie tucker
Tuesday, July 15, 2008 @ 3:17 PM

Is this a joke? Of course homes sales are up in the 2nd quarter vs. the 1st quarter. They always are. Home sales increase when the weather gets nicer and the farther you get from the holidays. GEESH!
How about comparing to a similar time last year? Home sales in Canyon County fell 40 percent in June compared with June 2007 and in Ada County June sales were down 26 percent from June 2007.
Comment By Karma
Tuesday, July 15, 2008 @ 4:33 PM

I wonder if Julie has ever told somebody not to buy.
Comment By Joe Blow
Tuesday, July 15, 2008 @ 6:16 PM

As a realtor, I can honestly.... haha lmao, no more needs to be said
Comment By emdeplam
Wednesday, July 16, 2008 @ 2:29 PM

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