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The Treasure Valley's housing market has seen a decrease in median home sales prices.
This trend, observed in Ada, Elmore, and Gem counties, marks a significant shift from previous years of high property prices.
Experts attribute this downturn to recent increases in interest rates.
Real estate agent Tom Wheeler from HomeFound Boise suggests this might be a short-term shift that could potentially reverse next spring.
He encourages potential buyers to seize this moment for better negotiations with sellers.
Similarly, Wheeler advises buyers to not be overly concerned with fluctuating interest rates while negotiating.
He points out that the purchase price remains the same once the contract has been signed.
With the ongoing expansion of industrial and construction activities, particularly in Canyon and Elmore counties, the future of the Treasure Valley housing market is still expected to grow.
More details:
Median home sales prices decrease year-over-year in Ada, Elmore and Gem counties
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