April marked the second consecutive month of notable gains across multiple sectors of the Treasure Valley real estate market, reinforcing the momentum that began building in March—historically a key month for the spring selling season. While not every indicator moved in the same direction, April’s performance overall suggests a promising trajectory for the months ahead.
New Home Sales…
New home sales declined by 16.5 percent month-over-month but maintained a healthy 12.7 percent increase from April of last year. This suggests that while buyer demand remains, there may be short-term pauses in development or seasonal fluctuations in inventory.
Existing Home Sales…
One of the standout highlights in April was the significant rise in existing home sales, which jumped nearly 59% compared to March. This surge also edged out last year’s numbers with a modest one percent year-over-year gain, signaling renewed buyer interest in resale properties and improved inventory movement.
Building Permits…
Building permit filings dropped by nearly 21 percent in April compared to the previous month, though they were still up 17.7 percent year-over-year.
Average Treasure Valley Sales Price…
The average sales price dipped by six percent from March and was down about two percent compared to April 2024. This softening in price could reflect seasonal price adjustments or increased competition in the market as more homes become available.
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.