After years of extremely low inventory in the Treasure Valley, the market is slowly trending toward normal.
These are all active homes for sale, both new and existing, on the first of each month since Covid in the spring of 2020, when demand surged and inventory cratered. Mortgage interest rates doubled in 2022, causing a temporary spike. Since then, inventory has been slowly trending upward each year.
Supply based on the pace of sales is showing a similar picture, slowly trending upward. A 5-6 month supply of homes is considered a balanced market where neither buyers nor sellers have a distinct advantage and prices are stable or slowly rising. That could be many years from now at this rate. Especially if our population keeps growing!