The Treasure Valley housing market maintained its steady pace in May as the PTC Index landed at 323 points, marking the second-highest monthly reading of the year behind March. Overall, May reflected a balanced and stable housing market. While construction activity, resale transactions, and home values all posted positive gains, the broader market remains characterized by measured growth rather than rapid acceleration. As summer activity ramps up, the Treasure Valley appears well-positioned to continue its steady performance through the heart of the 2026 selling season.
New Home Sales…
New home sales softened for the second consecutive month, declining just over five percent from April. Even so, demand for newly constructed homes remains healthy, with sales running about seven percent ahead of where they stood one year ago. The pullback appears more reflective of normal market fluctuations than a significant shift in buyer activity.
Existing Home Sales…
The resale market continued to gain traction. Existing home sales increased 14.7 percent compared to April and finished 23.1 percent higher than May 2025. The strong year-over-year growth underscores continued buyer demand and improving market confidence as inventory levels remain somewhat constrained.
Building Permits…
Building permit activity rebounded sharply in May, rising 25.1 percent from April. While permit filings remained 26.2 percent below May 2025 levels, the monthly increase suggests builders are still actively positioning themselves for future demand despite a more measured construction environment.
Average Treasure Valley Sales Price…
Home values continued their upward trend for the second consecutive month. The average Treasure Valley sales price increased a little over three percent from April and finished over two percent higher than one year ago. The back-to-back monthly gains suggest pricing remains resilient despite affordability challenges, supported by steady demand and limited inventory in many market segments.
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.