The PTC Index surged to 495 points in October, marking the highest reading we’ve seen in four years. On the surface, it looks like the Treasure Valley market has suddenly roared back to life — and in many ways, it has. But the real engine behind this spike isn’t a dramatic swing in homebuying activity. It’s the refinance boom that has taken shape over the past several weeks as interest rates have steadily trended downward.
New Home Sales…
New home sales saw meaningful improvement, rising nearly 10% month-over-month and edging 5.4% higher than last year. Builder incentives and improving buyer sentiment helped pull more shoppers back into the market as rates eased.
Existing Home Sales…
Existing home sales also climbed, increasing 7.2% from September and 1.2% year-over-year. While inventory remains lean, buyers who had paused earlier in the year are beginning to re-engage.
Building Permits…
Building permits continued to fall, dropping for the fourth straight month. October’s filings were down nearly 14% from September and 36.1% below last year, reflecting ongoing builder caution as they navigate costs, labor constraints, and shifting demand patterns.
Average Treasure Valley Sales Price…
Prices held steady overall, dipping just 1.2% from the previous month — a typical fall softening — while still landing 4.6% above October 2024. The Valley’s long-term price stability remains intact even as short-term fluctuations continue.
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.