As the sun blazes over the Treasure Valley and summer vacations are in full swing, the real estate market appears to have found its stride again albeit a small one. After a few months of softer activity, July brought a welcome rebound across most key metrics, reaffirming the busy season’s reputation. But the rebound wasn’t enough to prop up this month’s PTC Index which lands at 266 points; the second consecutive monthly decline caused by a dip in both average sales price and refinance activity.
New Home Sales…
Sales of newly built homes climbed to 484 units, marking a seven percent month-over-month rise and over three percent year-over-year increase. Buyers remain drawn to fresh inventory, particularly with modern amenities and energy efficiency.
Existing Home Sales…
While slightly down about two percent from June at 868 units, the resale market still posted a healthy gain of nearly six percent over last year. Inventory turnover remains strong, especially in well-priced listings.
Building Permits…
Filing activity surged dramatically, with 468 permits issued—up 77.3 percent from June and four percent higher than last July. This jump may signal renewed confidence from builders anticipating continued buyer demand.
Average Treasure Valley Sales Price…
Prices fizzled downward by roughly three percent compared to June, though they remain a little over one percent higher than in July 2024. This softening suggests buyers may have found a bit more negotiating room this summer, even in a competitive market.
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.