December saw the first month over month spike in pending activity since May. In addition to higher sales new construction saw the biggest jump in signed contracts. The median sales prices dipped below $517k for the first time since December 2022 resulting in a 13k decrease compared to Nov. 2023. We saw a 28% decrease in inventory for December leaving Ada county at a deficit for demand. However, market speeds remain faster compared to last year but have cooled month over month since June. Average market time for existing and new home sales were running 49 days on the market. Interest rates have been dropping and average 6.50% in January 2024 for a conventional 30 year fixed mortgage. If your looking to buy or are wondering what your home is worth in today's market give me a call and let's talk.