New home sales are on the rise in the Boise real estate market. In fact, according to the chart below, almost every month this year has outperformed the previous two years. There’s only one exception; June 2010 posted 69 new home sales. The fall of 2012 has seen approximately double the sales from a year ago and in some cases more than triple from 3 years ago.
One reason that new home sales in Boise may be seeing a big increase is the fact that there are fewer foreclosures in Boise available. In fact, 2012 has also posted some of the lowest foreclosure numbers we’ve seen in the Boise real estate market in recent years. The graph below shows the trend for foreclosure sales in 2012 has been consistently down. While January was at 59.2%, October posted less than half of that at 25.4%.
Overall, Boise real estate sales have been strong. This year, only two months underperformed last year’s totals and not by much. September, for instance, only showed a difference of 6. Otherwise, most months so far this year saw more real estate sales.