A note to our readers…
New Two-Phase Market Report Release Starting June 2025
To get you timely data and meaningful insights, BRR is introducing a new two-phase approach to our monthly Market Report releases:
- Phase 1: Snapshots & Graphs — Available earlier (typically between the 8th and 12th of each month), this first release includes high-level graphs and market snapshots. They’re ready for you to share in your newsletters, social media, or client conversations as soon as they drop.
- Phase 2: Market Stat Sheets — By the 16th of each month, we’ll follow up with the full Market Stat Sheets. This is where we dig deeper into the trends, provide key takeaways, and offer a broader interpretation of the data.
This two-phase release schedule is designed to get you what you need, when you need it: a quick look early on and a full picture shortly after.
Mortgage rates increased slightly in mid-June, with the average 30-year fixed mortgage rate rising from 6.48% to 6.52%. The increase followed stronger-than-expected US job growth in May and higher inflation data, both of which make Federal Reserve interest rate cuts less likely in the near future.
The economy added 172,000 jobs in May, while unemployment remained at 4.3%. Annual inflation rose to 4.2%, the highest level in three years; core inflation remained more moderate at 2.9%
Despite higher borrowing rates and costs, the national housing market has remained stable; existing national home sales reached a five-month high and pending sales increased for the sixth consecutive month. Despite these signs of market strength, economists caution that if inflation continues to rise faster than wages, household budgets could tighten and weaken housing demand later in the summer.
Source: Realtor.com
In June, the bipartisan “21st Century Road to Housing Act” was overwhelmingly passed in the House and Senate. The bill intends to increase the housing supply and reduce housing costs. Although President Trump unexpectedly delayed signing the bill, analysts believe it is temporary and expect the legislation to eventually become law due to its support in Congress.
One major feature of the bill is new restrictions on large institutional investors purchasing homes; after concerns from the build-for-rent industry that the legislation could discourage construction, several of the restrictions were softened before the final version was passed. Economists believe the impact may be limited as large investors have already reduced their market presence since the pandemic, while smaller individual investors now account for most investment purchases.
Additionally, the bill also includes banking deregulation measures aimed to encourage small banks and credit unions to expand mortgage lending. Another component includes reducing permitting and review times, which many housing advocates argue are major contributors to high construction costs and limited supply. The legislation also encourages local governments to adopt new housing development strategies.
Sources: Realtor.com Housing Update
Boise’s proposed property tax increase in the city’s FY27 budget was decreased from 4% to 2.7%. According to the city’s revised budget proposal, the change saves Boise residents a combined $2.9 million compared to the earlier version. The revised budget reflects a push to tighten spending across the city, delay low-priority projects, and concentrate resources on housing, core infrastructure, and public safety, according to Mayor Lauren McLean. Boise’s City Council still needs to approve the proposed budget. Public meetings are scheduled ahead of the vote which will occur later this year; residents can attend in-person at City Hall or watch online.
Source: Realtor.com
Other Real Estate News
- Real Estate News | MLSs a priority for NAR’s Political Advocacy
- Nar.realtor | Existing-Home Sales Dip as Housing Wealth Remains at All Time-High
- Realtor.com | Mortgage Rates Jump Back Up Iran Peace Deal Unravels
- Bankrate | The Hidden Homeownership Tax
Please note: Some news outlets may protect their content with paid subscriptions. While we try to refrain from sharing articles that may not be accessible to everyone, we may share them if important to the industry.
Additional information about trends within the Boise Region, by existing and new construction, are now available here: Ada County, Elmore County, Gem County, Four Rivers Region (coming soon), and Condos, Townhouses, and Mobile/Manufactured Homes Market Reports. Each includes an explanation of the metrics and notes on data sources and methodology.
Ada County
Canyon County
Elmore County
Gem County
Condos…
Download the latest (print quality) market snapshot graphics for Ada County, Ada County Existing/Resale, Ada County New Construction, Boise County, Elmore County, Gem County, Malheur County, Payette County, and Washington County.
Since Canyon County is not part of BRR’s jurisdiction, we don’t publicly report on Canyon County market trends. Members can access Canyon County snapshots and reports in the Market Report email, or login to our Market Statistics page. Our Owyhee County snapshot can also be accessed on our Market Statistics page.
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The data reported is based primarily on the public statistics provided by the Intermountain MLS (IMLS), a subsidiary of Boise Regional REALTORS® (BRR). These statistics are based upon information secured by the agent from the owner or their representative. The accuracy of this information, while deemed reliable, has not been verified and is not guaranteed. These statistics are not intended to represent the total number of properties sold in the counties or cities during the specified time period. The IMLS, Boise Regional REALTORS®, and Idaho Policy Institute provide these statistics for purposes of general market analysis but make no representations as to past or future performance. If you have questions about this report, please contact Boise Regional REALTORS® at 208-376-0363. For notes on data sources, methodology, and explanation of metrics, visit boirealtors.com/notes-on-data-sources-and-methodology.
If you are a consumer, please contact a REALTOR® to get the most current and accurate information specific to your situation.
Boise Regional REALTORS® (BRR), a 501(c)(6) trade association, represents real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.
“REALTOR®” is a federally registered collective membership mark which identifies a real estate professional who is member of the National Association of REALTORS® (NAR) and subscribes to its strict Code of Ethics.
