Twin Falls, Idaho (KMVT-TV) After struggling the past several years, local realtors tell us the housing market is starting to turn around. If you're looking for a house, you may want to buy one sooner than later because real estate prices will likely continue to increase. Terry winkle is one of many realtors in twin falls that believe the real estate market is improving.
"I think back in 2011, we saw kind of a flat line approach where things were just real steady. Prices weren't going up, prices weren't coming down. Kind of a flat line motion really. And 2012 is where we started to see that heart beat, the market started to shift in the other direction," said Terry Winkle.
Realtors know the housing market is improving because the inventory of houses for sale is decreasing.
"Last year at this time we saw, we were about 490 active sales in Twin Falls, active homes for sale. This year we are about 404," Winkle said.
Another local realtor says buying a home might be a better option.
"What we've seen in the last years, we've seen prices of new construction rising. One of the things we've been seeing is all of the supplies to build a new home have been increasing. And we're expecting in the next 20 days another significant price change of new construction," said Realtor Sid Lezamiz.
Insulation and sheet rock have both gone up 25%. Roofing prices have increased by 15% and the price for windows have increased by 7%.
"The cost of building a new home is going up. The cost of buying a new home is going up," said Lezamiz.
Realtors tell us another good reason to buy a house right now is due to the all time low interest rates.