The PTC Index is a monthly measurement of the vibrancy of the Treasure Valley real estate market. Based on a custom weighted algorithm, it combines nine critical measurements of the real estate market into a single, useful number: the PTC Index.
With summer just around the corner, the Treasure Valley housing market shows no sign of slowing with the PTC Index landing this month at a remarkable 525 points!
New home sales posted an 18 percent decrease in April versus March ’21. Volume is mostly on par in the year-ago time period with only a slight decrease of three percent.
Existing home sales are up nearly 30 percent versus March with 779 units; this represents a small decline of just two percent versus April 2020.
Building permits are down 20 percent from the prior month but are up three percent from April 2020. Building material costs have increased dramatically during the first quarter and builders may be taking a wait-and-see approach on new starts.
The average sales price for homes in both Ada and Canyon counties is still on the rise. Ada County posted an average sales price of $546,170 while the Canyon County average sales price landed at $415,021; the overall average arrived at $489.596 which is an astonishing 37 percent increase versus April 2020.
Click here to see a full report on the Treasure Valley real estate market and be sure to visit PTCIndex.com for full historical data.
