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.
September has always ushered in the slower fall and winter months bringing less real estate activity throughout the Treasure Valley. This year, however, the perennial downward shift is further exacerbated by ongoing global and domestic economic headwinds, thereby pulling the latest PTC Index down to a three-year low of 217 points.
New home sales in September were down eight percent versus August; compared to a year ago, they are down 24 percent.
Existing home sales in September fell six percent versus August; compared to a year ago, they are down 35 percent.
This month’s most precipitous decline were building permits which fell by nearly 58 percent from August 2022. In the year-ago period, they are down even further by nearly 73 percent which could signal less confidence amongst builders and developers.
The blended average sales price in September for homes in Ada and Canyon counties was $554,781 – a six percent decline from August but still three percent higher from a year ago.
Be sure to visit PTCIndex.com for full 10-year historical data.
