Housing Market Improving In The Magic Valley


By Andrew Reed

Twin Falls, Idaho ( KMVT-TV - KTWT-TV ) Another sign the housing market may be getting back on its feet.

U.S. home prices picked up in December, closing out 2012 with the biggest gain in more than six years.

Realtors in the magic valley are seeing a boost in the house market.

"The improvement is the price, last year's average sold was $125,000 for residential, this year its $145,000. It's a little bit higher than last year” Ron Kirtland, Canyon River Realty.

Just this year 154 homes have sold, compared to last year’s 176.

The average home in the southern Idaho market is selling within 111 days.

In a report by the national association of realtors, 31-percent of all homes sold in January were on the market for less than a month. First-time buyers accounted for 30-percent of the purchases."

"We're seeing a lot of home sales that are coming on the market and selling within in 15 to 20 days. We're seeing a lot of activity, if properties are priced right, marketed right, and staged well we're seeing those homes sell and at a good price” said Sid Lezamiz, Lezamiz Real Estate.

If you’re nervous about putting your home on the market, realtors say this is the perfect time to buy.

"If there are buyers out there on the fence, it's time to jump off because interest rates are at an all time low, under four-percent for a home mortgage which is fantastic.

A recovering housing market that is seeing improvement for buyers and sellers.

New home sales are also on the rise in the Magic Valley.

The City of Twin Falls has issued 17 building permits since January.

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