I have recently had to often answer the question of ‘is the North Idaho Housing Market slowing down?’. The question obviously coming from concerns of where the market is, and where it may go. The chart below is from NAR – National Association of Realtors.
While stable is not a bad place to be I sincerely do not think we will be there during the 2022 months ahead. North Idaho is still in a very strong sellers market. Seldom do you see a listing without multiple offers. So even if there were 1/2 dozen offers on a home maybe 6 months ago and 3 offers today, I do not believe it turns it to a stable market.
Keep in mind an equal buyer / seller market is roughly 90 days on market average. We are not even half of that figure. Keep in mind also some sellers are pricing themselves completely out of the market looking only to see what they may get. Those listings at face value will askew the figures at a nonchalant glance.
Also seen on the same post is the seller chart. It is also showing stable per NAR. Our numbers in North Idaho do not come close to indicating a stable market, or a market that is becoming equal buyer/seller. We are very much still in a Strong Seller Market.