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.
Fueled by rising interest rates and inflation, the real estate market across the valley is chugging along at a slow pace during a season that is traditionally a time of peak market conditions. Thusly, landing at a 40-month low of 287 points, the PTC Index this month is illustrating just how much momentum the Treasure Valley real estate market is losing.
New home sales were down 12 percent from May ’22 and also down 14 percent versus June ’21.
Existing homes fell eight percent from May and 21 percent from June 2022.
Building permit filings were down in June by 35 percent versus the month prior and were down 36 percent from a year ago.
The average blended Ada/Canyon sales price fell by one percent landing at $604,913 but is up 13 percent from the year-ago average of $530,864. Ada’s average sales price climbed to $708,428, while Canyon dropped to $501,397.
Be sure to visit PTCIndex.com for full 10-year historical data.
