The Treasure Valley real estate market has kicked off the season with an impressive surge, signaling positive momentum as we head into the summer months with the PTC Index landing at 20-month high of 278 points.
New Home Sales…
Despite a slight dip of 1.7 percent from the previous month, new home sales remained strong in April, marking a notable 7.7 percent increase compared to a year ago.
Existing Home Sales…
Existing home sales witnessed a remarkable uptick, surging by 30.1 percent compared to the previous month and showing a substantial 20.2 percent increase year-over-year.
Building Permits…
Building permit filings skyrocketed, exhibiting a remarkable increase of 69.1 percent from the previous month and a staggering 122.4 percent surge compared to the same period last year.
Average Treasure Valley Sales Price…
The average sales price continued its upward trajectory, recording a modest increase of 0.5 percent compared to the previous month and a notable 2.4 percent rise year-over-year. This steady appreciation in home prices underscores the sustained demand and market strength, supported by factors such as limited inventory and strong buyer demand.
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.
