The median price of a single-family home in Ada County in October 2022 was $561,500, 5.4% higher than it was at the same time last year. Canyon County's median home price, which was $434,800 in Q3, is also higher than last year's price (by 2.6%).
933,000 people were employed in Idaho in September 2022, an increase of 8,000 since June 2022. The rise in employment has fallen slightly behind the growth of the civilian labor force, which increased by 11,000 people over that period. At 2.8%, unemployment is 70 basis points lower than the U.S. average.
In October, the month's supply of homes for sale in Ada and Canyon Counties decreased for the first time this year. It now rests at 2.81 months, still much higher than the supply during the extreme seller's market at the beginning of the year. Home prices have also begun to increase once again. Rising interest rates are expected to limit home sales and price increases.