Boise Housing Market, Week of July 20, 2026

Boise Market Pulse

Week of July 20 · from Camille Hubbard's team

This week's lean

Sellers held the cards this week.

Signed prices firmed and buyers moved quickly. Demand did the talking this week.

What moved · resale · vs last week

The full board · vs last week

Signed = went under contract. Days = median time on market for listings, or median time to contract for signed. Exact figures in the story below.

Sellers are trimming prices, but buyers are not rushing in just yet. Both sides are pausing as mortgage rates hit their highest level of the year. If you are selling, you are competing with more listings and buyers who are watching every dollar. If you are buying, there is a bit more room to negotiate, but your monthly payment has likely gone up again, even if prices are a touch lower.

The biggest shift this week is that both new construction and existing homes saw price drops, but fewer homes went under contract and inventory thinned out. That means the tug-of-war between what sellers want and what buyers are willing (or able) to pay is still playing out. Most homes are sitting longer, but some well-priced listings are still moving quickly. It is not a market for wishful pricing.

Existing homes

Resale homes are feeling the pressure. The median asking price for an existing home dropped to $633,430, down $7,310 from last week. That is a noticeable move, especially as this is the second week in a row sellers have had to adjust. The number of resale homes on the market shrank to 928, with 29 fewer listings. It looks like some sellers are deciding to sit out instead of chasing buyers down even further.

On the buyer side, the median price for homes going under contract nudged up to $578,670, which is $3,380 higher than last week. This is the first time in a while we have seen pending prices move up instead of down. Still, homes that are selling are doing so in about 13 days, just a day longer than last week. The bump in pending price could mean sellers who adjusted quickly are finding buyers, but the market as a whole is still softening. If you are selling, now is not the time to push your luck. If you are buying, you still have leverage, but make sure you are realistic about what you can afford.

New construction

Brand new homes are following a similar pattern, but everything is happening at higher prices and a slower pace. The median price for a new build dropped to $665,853, down $6,002 from last week. There are 401 new homes for sale, which is just four fewer than last week, so inventory is holding steady but not growing the way it did earlier in the summer.

Pending sales for new construction jumped in price to $634,840, up $5,440. But fewer buyers signed contracts, with pending listings down by six. The typical new home is sitting on the market for 65 days, and even those that go under contract are still taking about 62 days to find a buyer. Builders are holding prices a bit firmer on pending deals, but with so many homes sitting for months, expect negotiation to stay part of the equation.

The bigger picture

The 30-year fixed mortgage rate now averages 6.58 percent as of July 23, the highest of 2026 so far. Every small jump in rates cuts into what buyers can afford, which is why we are seeing sellers trim prices and some homes come off the market altogether. With the Federal Reserve meeting this week and no sign that inflation pressures are easing, borrowing costs are unlikely to drop soon. That means buyers have to be even more careful with their budgets, and sellers need to price with precision if they want to get an offer.

If I had to guess, we will see more of this slow standoff through the rest of summer. Buyers are not in a rush, but neither are they completely in control. Sellers who adjust quickly are still able to make a deal, especially if their home is move-in ready and priced right. Everyone else may need to be patient and flexible, whether that means negotiating harder or, for some, sitting out until conditions change.

The important thing is to stay grounded. Real estate in Boise is not moving as fast as last year, and that is not always a bad thing. A slower market gives everyone more time to make the right decision. Whether you are buying, selling, or just watching, the best move is to stay realistic, keep an eye on your numbers, and remember that good opportunities still show up...just not always on your schedule.