I keep a close eye on listing inventory because it’s an indicator of the health of the Boise real estate market.
We started 2006 with about 1,550 single-family homes (on lots/acreage; not including condo’s) on the market in Ada County.
That number stands at 4,702 this morning.
It is interesting to note that the listing inventory seems to have stabilized and is no longer increasing by roughly 300 listings/month as it has done year-to-date.
This is a good sign for our market, but it may simply be seasonal as we approach our slower winter market.
Some sellers are pulling their properties off the market and renting them, and other sellers are waiting for Spring when they think the market will improve.
Waiting for next Spring could backfire for those sellers if we see a flood of new listing inventory competing for scarce, bargain-hunting buyers.