For the first time in 70 months home inventory has fallen below the 2,000 level in Ada County.  You have to go back to January of 2006 to find a time when inventory levels were lower than this!  Canyon is the same with the inventory dropping below 900 for the first time since February 2006.

A16 – Ada County Residential INVENTORY

So, what does this mean?  Fewer options for buyers, prices will continue to firm up.  It is now a seller’s market at a very greatly adjusted pricing point.  In general the prices are back to 2002 levels!  But there is only a 3.1 months supply of resale homes currently on the market.  New Construction is a different story.  Builders are pushing ahead as much as they dare with more than a 7 months supply of homes available.