Summer has officially come to a close in the Treasure Valley. With kids back in school and households settling into fall routines, September brought a noticeable slowdown in overall real estate activity. While this seasonal lull isn’t unusual, the combination of two consecutive months of weaker construction activity and uneven sales figures suggests the market is still finding its footing after a stagnant summer season. Altogether, the PTC Index remained firm at 276 points, reflecting a market that—while slower in sales volume—is buoyed by refinancing strength and continued confidence in long-term home values.
New Home Sales…
New home sales rose 1.1 percent from the previous month and are up roughly eight percent year over year, signaling continued demand for newly built inventory despite higher construction costs and limited starts.
Existing Home Sales…
Existing home sales slid 8.9 percent month over month, though they remain up 3.8 percent compared to a year ago, showing that many homeowners are still holding onto low-rate mortgages rather than listing their homes.
Building Permits…
Filings for building permits dropped nearly eighteen percent from August—marking the second straight monthly decline—and are down more than thirty-one percent compared to September 2024. Builders appear to be pulling back slightly amid mixed signals about buyer demand.
Average Treasure Valley Sales Price…
Average sales prices held remarkably steady, dipping just one-tenth of a percent from August but standing 5.4 percent higher than September 2024.
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.