0
00:00:00,009 --> 00:00:02,490
Hey everybody. It's Corey. Thanks for joining me.

1
00:00:02,599 --> 00:00:04,760
So we're gonna take a look at the housing stats for the

2
00:00:04,769 --> 00:00:08,939
North Idaho real estate market from last week in just a moment.

3
00:00:09,239 --> 00:00:10,060
First

4
00:00:10,260 --> 00:00:10,979
Idaho,

5
00:00:11,180 --> 00:00:13,579
it's known for its potatoes,

6
00:00:13,909 --> 00:00:15,500
its outdoor lifestyle,

7
00:00:15,880 --> 00:00:17,340
its conservative culture.

8
00:00:17,780 --> 00:00:22,469
But one thing that Idaho is not recognized for is its cost of electricity.

9
00:00:22,969 --> 00:00:24,100
In a recent study

10
00:00:24,750 --> 00:00:27,479
released last week by quick electricity.

11
00:00:28,010 --> 00:00:32,159
Idaho ranked number five for the lowest electricity costs in America.

12
00:00:32,490 --> 00:00:35,770
32% lower than the national average

13
00:00:36,060 --> 00:00:40,000
of 15.47 cents per kilowatt hour

14
00:00:40,439 --> 00:00:41,779
for those that are interested.

15
00:00:41,790 --> 00:00:45,369
California had the sixth highest electricity in the nation

16
00:00:45,500 --> 00:00:48,790
at 26.45 cents per kilowatt hour,

17
00:00:48,979 --> 00:00:50,540
nearly 60%

18
00:00:50,720 --> 00:00:52,060
more than Idaho.

19
00:00:52,299 --> 00:00:54,819
And while Idaho can brag about lower cost of

20
00:00:54,830 --> 00:00:57,340
electricity than just about anyone in the nation.

21
00:00:57,659 --> 00:01:02,310
It is unquestionably the champion when it comes to the overall cost of utilities.

22
00:01:02,450 --> 00:01:04,388
That's when you factor in electricity,

23
00:01:04,750 --> 00:01:05,459
water

24
00:01:05,870 --> 00:01:07,029
and natural gas.

25
00:01:07,510 --> 00:01:09,139
And that brings me to my next point.

26
00:01:09,269 --> 00:01:11,930
We're about to release the next video on our series

27
00:01:11,940 --> 00:01:15,029
about the top 10 states that Americans are fleeing to.

28
00:01:15,589 --> 00:01:18,120
And in this video that we're about to release next week.

29
00:01:18,129 --> 00:01:21,940
We're gonna be looking at the overall cost of living for those top 10 states.

30
00:01:21,949 --> 00:01:26,349
Spoiler alert Idaho comes out number one for the lowest cost of utilities.

31
00:01:26,360 --> 00:01:27,959
What about health care costs?

32
00:01:28,720 --> 00:01:33,010
What about other things like groceries that we spend our daily money on?

33
00:01:33,410 --> 00:01:34,000
Well,

34
00:01:34,010 --> 00:01:37,059
we're gonna take a look at all 10 of those top 10 states and

35
00:01:37,069 --> 00:01:41,059
we're gonna rank them according to those categories and see who comes out number one

36
00:01:41,370 --> 00:01:43,160
for the overall cost of living.

37
00:01:43,410 --> 00:01:45,989
So, stand by for that and if you haven't subscribed

38
00:01:46,279 --> 00:01:49,970
and hit that notification bell, make sure you do. So you don't miss the video.

39
00:01:50,239 --> 00:01:54,529
All right, let's take a look at the weekly stats from last week here in North Ida,

40
00:01:54,540 --> 00:01:58,069
looking at mortgage rates for how they ended up last week,

41
00:01:58,449 --> 00:02:03,419
the 30 year fixed rate mortgage ended at 6.39% for the week.

42
00:02:03,569 --> 00:02:07,239
That was up 0.12% from a week ago.

43
00:02:07,410 --> 00:02:10,240
And still looking back last year, this time,

44
00:02:10,250 --> 00:02:13,460
we were just at under 5% for mortgage rates

45
00:02:13,470 --> 00:02:16,820
and looking at the market totals for last week,

46
00:02:16,910 --> 00:02:18,149
new listings.

47
00:02:18,440 --> 00:02:21,160
They are starting to come back onto the market here in spring.

48
00:02:21,250 --> 00:02:27,080
They're up to 100 and 88 for last week. That was up 20 more listings than last week.

49
00:02:27,529 --> 00:02:30,679
And compared to the same week a year ago,

50
00:02:30,919 --> 00:02:34,660
which had 100 and 76 new homes come onto the market,

51
00:02:34,869 --> 00:02:40,770
we are up 7% this year over last year. So new homes coming onto the market.

52
00:02:40,779 --> 00:02:42,070
Good news for you buyers.

53
00:02:42,479 --> 00:02:48,399
Ok. Total homes for sale inventory also going up. It's at 13 58 for the week

54
00:02:48,679 --> 00:02:53,380
that went up uh from 12 85 last week.

55
00:02:53,389 --> 00:02:58,000
And compared to the same week a year ago, which had 836

56
00:02:58,130 --> 00:03:01,539
total homes for sale, we are up 62%

57
00:03:01,679 --> 00:03:04,529
more homes this year over last year

58
00:03:04,660 --> 00:03:09,270
pending sales. And this is indicative of what's going on in our market right now.

59
00:03:09,279 --> 00:03:11,529
A lot more buyers are coming into the market.

60
00:03:11,979 --> 00:03:17,669
You have pending sales of 100 and 15 for last week compared to the week before.

61
00:03:17,679 --> 00:03:19,529
It was up from 94

62
00:03:19,899 --> 00:03:24,149
the same week a year ago, there were 91 pending sales.

63
00:03:24,160 --> 00:03:28,899
We are up 26% pending sales this year over last year

64
00:03:29,380 --> 00:03:32,910
closed sales. And remember this is a a lagging indicator.

65
00:03:32,919 --> 00:03:35,309
These are your sales that were pending

66
00:03:35,419 --> 00:03:41,009
anywhere from 30 to 45 days ago, but your closed sales last week were at 48

67
00:03:41,669 --> 00:03:47,259
that was down from the week before of 52. And compared to the same week a year ago,

68
00:03:47,509 --> 00:03:50,440
closed sales are down 50%.

69
00:03:50,449 --> 00:03:55,339
So we have half the closed sales compared to last year which had 96

70
00:03:55,880 --> 00:04:04,279
prices of the 48 homes that closed sales. The medium price was 498,566.

71
00:04:04,529 --> 00:04:11,729
That was down considerably from the medium price of a week ago, which was 577 5 80.

72
00:04:11,960 --> 00:04:17,570
So the overall medium price of the homes was right around 500 compared to

73
00:04:18,000 --> 00:04:20,329
last week. And compared to

74
00:04:20,440 --> 00:04:26,500
last year, the median price this week was 601,500.

75
00:04:26,730 --> 00:04:33,540
So we are down 17% year over year if you compare this week to the the same week a year ago

76
00:04:33,720 --> 00:04:37,529
and looking at the breakdown of how the homes were bought last week,

77
00:04:37,679 --> 00:04:45,029
21 of those were conventional 18 or 38% of the total sales were cash.

78
00:04:45,339 --> 00:04:50,649
There were no adjustable rate mortgages, one F H A loan, four va loans,

79
00:04:50,890 --> 00:04:52,739
one seller financing,

80
00:04:53,000 --> 00:04:58,690
no 10 31 exchanges and three categorized as other for a total of 48

81
00:04:59,320 --> 00:05:01,089
sales for the week.

82
00:05:01,100 --> 00:05:07,040
Looking at the distress sales for last week, we had none come onto the market.

83
00:05:07,049 --> 00:05:09,869
No short sales, no foreclosures

84
00:05:10,209 --> 00:05:11,470
for year to date.

85
00:05:11,480 --> 00:05:16,380
We still have six active foreclosures and one short sale,

86
00:05:16,390 --> 00:05:19,160
only one of those six has sold year to date

87
00:05:19,529 --> 00:05:22,649
and the one short sale still on the market.

88
00:05:23,079 --> 00:05:25,369
And at a request of one of our

89
00:05:25,739 --> 00:05:30,489
subscribers, he asked that we show the ratio of the homes that are selling,

90
00:05:30,559 --> 00:05:32,190
which of them are new builds.

91
00:05:32,200 --> 00:05:35,559
And last week of the 48 homes that were sold,

92
00:05:35,709 --> 00:05:39,190
five of those 48 were brand new homes.

93
00:05:39,200 --> 00:05:44,459
So just about 10% last week of the homes sold were new builds.

94
00:05:44,470 --> 00:05:46,869
All right, that's it for now. You guys thanks for watching.

95
00:05:46,880 --> 00:05:50,070
Don't forget to subscribe and hit that notification bell.

96
00:05:50,079 --> 00:05:52,230
So you don't miss the next videos that are coming out.

97
00:05:52,480 --> 00:05:53,190
Bye now.