As expected, the Treasure Valley real estate market experienced a seasonal slowdown in January, with declines across most sectors. The winter months traditionally bring softer market activity, and this year proved to be no exception. While new building permit filings showed notable growth, home sales and refinance activity saw declines compared to December 2024 with the PTC Index landing at 126 points.
New Home Sales…
New home sales saw a notable decline of 28.6 percent from the previous month, though they were down about two percent compared to January 2024.
Existing Home Sales…
Similarly, existing home sales dropped by 27.4 percent versus December. However, unlike new home sales, existing home transactions saw a year-over-year increase of nearly three percent indicating a slightly stronger resale market compared to the same period last year.
Building Permits…
One standout metric was the sharp increase in building permits. Filings jumped 80.5 percent from December, marking a significant uptick in planned new construction. Compared to January 2024, permit filings were up 37.4 percent, suggesting strong confidence in the long-term housing market despite short-term seasonal slowdowns.
Average Treasure Valley Sales Price…
Despite the overall slowdown, home prices remained resilient. The average sales price inched up by 0.6% from December and saw a healthy 6.4% increase compared to January 2024. This suggests continued demand and price stability, even as transactional volume softened.
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.
Be sure to visit PTCIndex.com for full 10-year historical data.
