Last month, the Boise housing market witnessed impressive leaps in some key measurements for real estate market competitiveness.  Most notably, the median sales price for existing homes (not including new construction) went up by $56,800 from February to March.  This is an increase of 11.6% in one month and marks the greatest month-over-month price jump in Ada County history.   Though not record-breaking, the overall month-over-month median sales price increase of 6.3% was also notable.  These metrics, along with a month-over-month increase of 12.2% in pending sales an ..read more

The median sales price for the Boise housing market in February was $522,000. This is up 1.7% (or about $9,000) from January and up 5.7% (or $30,000) from February of last year. Though still sitting below the February record-high median sales price of $549,900, set in 2022, there seems to be a steady trajectory back in the positive direction. While prices are recovering, the market still feels incredibly slow, with only 527 homes being sold last month. This number is up 14.8% from January but remains 15.3% below the number of homes sold in February 2023 and 24.7% below the more normal, pre-pan ..read more

As mortgage interest rates dipped in December and January, many buyers got off the fence, and the Boise housing market saw pending sales increase to their highest number since June 2023.  Unfortunately, at the beginning of this month, we began to see rates move up again. We anticipate this may cause some buyers to pull back but are curious to see just how much it will affect home sales in our area in the coming months. In looking at national statistics, Redfin’s Economic Research Lead, , anticipates that increased rates, which will likely stay near 7% for now, will give the housing market ..read more

In our recent small group gathering, we looked at and shared how we had experienced the outworking of the verse in our personal lives.  The verse urges us to actively seek ways to uplift one another, to foster love and inspire goodness, and to cherish the importance of communal gatherings. It was such a joy to hear how each person in the group had been touched and motivated by the community around them. From simple acts of kindness like a friend delivering a smoothie and a hug on a hard day, to the faithful presence of someone walking alongside another in a transitional season, the impact ..read more

Despite a slower year for real estate overall, the Boise housing market concluded 2023 in a stable position.  The median sales price in December stood at $516,745, marking the lowest for the year but still higher than the same period last year. To visualize the shift in median sales price from December 2018 to December 2023, refer to the graph below.     While the number of homes sold in December was down 5.2% from the month prior and down 13.4% from the previous year, the number of pending sales increased by 1.6% and 13.2% respectively. This uptick indicates a rise in buye ..read more

Traditionally, I like to reflect on one word to describe the past year and one for the year ahead. In 2023, I chose " ." But, in looking back as I wrote our , "sure" felt more fitting. The good news of salvation through Jesus remained a solid truth and a sure anchor in every high and low we experienced. While "sure" prevailed as my 2023 word, “awe” was certainly present in the wonderful, undeserved truth that the God of the universe is mindful of me—that He cares for me, is attentive to my needs, is not burdened by me, gave Himself up for me, and loves me despite my many faults and failings.&n ..read more

Over the past year, the Boise housing market experienced a notable and abrupt deceleration from its initial post-COVID pace.  However, a recent decline in mortgage interest rates has sparked a refreshing surge in buyer activity. This development is particularly exciting for prospective buyers who have been eager to purchase a home but unable to afford the cost-prohibitive, high-interest payments.  In addition to the possibility of more manageable mortgages, current buyers may also have a limited window to capitalize on the lower prices and greater opportunities for negotiation afford ..read more

Here is my (Katie Miller's) family Christmas letter for 2023.  I hope you enjoy hearing what God's been up to in our lives this past year.  If you are willing to share, I also love to hear what God is doing in the lives of others, so it would be a joy to hear from you!   Often, when people ask, “How’s life?” our answer is, “It’s full.”  The word “full” in this response has a dual meaning—on the one hand, it feels “full” like a cup brimming with blessing and, at the very same time, “full” like a plate on which one more thing might send it all tumbling.  Yet, in bot ..read more

Last month, the resale home sector of the Boise housing market is where we saw the most positive movement.  This month, however, it’s new construction that’s leading the charge.  Though still 11.1% below last year's prices, the median sales price for new construction jumped by 6.3% from last month.   Also, inventory of new homes also expanded by 6.2% this month, pending new construction sales rose 3.8%, and the number of new homes sold increased by 9.8%.    Since we anticipate a rush on home buying if interest rates drop, it’s encouraging to see more new construct ..read more

In honor of Thanksgiving, I was reflecting on the many things I am thankful for, and one that may seem silly but continued to come to mind was my bedroom.  Perhaps, it has something to do with the time change, the cold, and the early darkness, but I find myself eager to retreat to my room each night—much earlier than I should like to admit.  It is not necessarily the sleep that I look most forward to, but all the things that come with the nighttime routine.  I love washing my face, brushing my teeth, and putting on clean, comfy PJs—preparing to enter a time of rest after a full ..read more