President of Pioneer Title Co., Tim Bundgard this week wrote a guest column for the Idaho Business Review forecasting real estate in 2011. He referenced the PTC Index, a monthly measurement of the health of the Treasure Valley real estate market, as a baseline for his forecast…
“…When the federal government introduced its first-time homebuyer program a few years ago, it incentivized buyers with a tax credit and, in turn, spurred home sales. Many people took advantage of this inducement; the first-time homebuyer tax credit, however, was a temporary fix and may have prolonged a full recovery.
Our index shows that new home sales at a monthly average of 117, 91 and 94 in 2009, 2010 and 2011, respectively. It is evident that even as 2009 brought above-average numbers in the historical sense, post-incentive years show growth, albeit in small increments.” Read the full article…
Excerpt courtesy of the Idaho Business Review
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