T
his summer's home-buying season may seem like a bust, but local experts say that's not the case in every market. While nationally, inventory is up and prices are down due to more sellers than buyers, Boise's real estate scene is thriving.

    "We're in a seller's market, but it feels like a buyer's market," said Elizabeth Hume, President of Boise Regional Realtors. "In 2020, homes were selling for thousands over asking price without even needing to be cleaned."

    According to July numbers from the Intermountain MLS, home sales are up 11% in Ada County year-over-year, making this summer's selling season a success. However, Canyon and Twin Falls Counties are experiencing a decline in home sales, with drops of 6% and 9%, respectively.

    Despite these variations, median home prices remain relatively stable, with minimal fluctuations of just 1%. Hume attributes this to the area still needing more inventory to reach a balanced market. While prices aren't decreasing, builders and lenders are offering incentives that can lower interest rates and payments, making homes more affordable.

    "People think we're in a seller's market because prices aren't going down," said Hume. "But through negotiation and market dynamics, there are many incentives available, making it feel like a buyer's market."