{"id":9355,"date":"2012-07-26T08:00:43","date_gmt":"2012-07-26T14:00:43","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=9355"},"modified":"2012-07-25T18:05:27","modified_gmt":"2012-07-26T00:05:27","slug":"why-new-home-sales-have-slowed-in-boise","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2012\/07\/26\/why-new-home-sales-have-slowed-in-boise\/","title":{"rendered":"Why New Home Sales Have Slowed In Boise"},"content":{"rendered":"
\"\"<\/a>

Molly Messick \/ StateImpact Idaho<\/p>

A sign advertises new homes going up outside of Boise.<\/p><\/div>\n

New home sales took a dive in June, falling by more than 8 percent nationwide<\/a>.\u00a0 That’s according to a report<\/a> out this week from the Commerce Department.\u00a0 But that national trend doesn’t hold as true in the Boise area, which accounts for a large number of Idaho’s new home sales.<\/p>\n

According to data from the Intermountain Multiple Listing Service, 120 new homes were sold in Ada County in June, a 9 percent decrease from May, when 131 new homes sold.\u00a0 Neighboring Canyon County saw an increase in new home sales in the same period — from 21 to 28 — which compensated for most of Ada County’s drop.\u00a0 Taken together, the counties saw a much less consequential 2.5 percent decrease in new home sales.<\/p>\n

“I don’t think we’re hitting a stagnation point,” says Marc Lebowitz, of the Ada County Association of Realtors.\u00a0 “The limited availability is what is causing that slowdown.”\u00a0 <\/p>\n

In other words, Lebowitz says, there aren’t enough new homes to go around, which means there are fewer available to sell.\u00a0 As evidence, Lebowitz points to the number of available distressed homes, which has been cut in half over the last year.\u00a0 What’s more, prices are rising.\u00a0 Ada County’s median home price was up by 13 percent in June compared to June 2011.<\/p>\n

“I’ve heard there have been some good solid purchases of available lots,” Lebowitz says, “but we have more demand than availability.”<\/p>\n","protected":false},"excerpt":{"rendered":"

New home sales took a dive in June, falling by more than 8 percent nationwide.\u00a0 That’s according to a report out this week from the Commerce Department.\u00a0 But that national trend doesn’t hold as true in the Boise area, which accounts for a large number of Idaho’s new home sales. According to data from the […]<\/p>\n","protected":false},"author":46,"featured_media":7960,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[40,46],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/9355"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/comments?post=9355"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/9355\/revisions"}],"predecessor-version":[{"id":9374,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/posts\/9355\/revisions\/9374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media\/7960"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/media?parent=9355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/categories?post=9355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/idaho\/wp-json\/wp\/v2\/tags?post=9355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}