Boise Housing Market, Week of July 27, 2026

Boise Market Pulse

Week of July 27 · from Camille Hubbard's team

This week's lean

An even week in the market.

Asking and signing moved together. Neither buyers nor sellers gained real ground.

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.

A lot of homes in Boise are sitting longer than they did last year, and price cuts are steady, but buyers are still holding back. Sellers are trimming their expectations, but buyers are not jumping at every drop. If you are selling, patience (and a willingness to negotiate) is your best asset right now. If you are buying, you have a bit more leverage, but higher mortgage rates mean your monthly payment climbs even if the sale price slips.

The biggest tension this week is between new construction, which is holding out for higher prices, and existing homes, where both price and speed are slipping. That gap matters if you are deciding between a brand-new place and a resale, or if you are watching to see when the market tips in your favor.

Existing homes

Resale homes in Boise are seeing small but steady drops in price. The median asking price for an existing home is now $631,960, down $1,470 from last week. That is not a huge move, but it is another week of downward adjustment. Homes are also taking longer to sell, with the typical resale sitting for 35 days, two days longer than the week before. The number of resale homes on the market held steady at 928, so there is not a rush of new listings, but also not much coming off the market.

For buyers, the real story is on the pending side. The median price for homes going under contract dropped by $2,300 to $576,370. That is three weeks in a row of small declines. The typical home that does sell is going under contract in 14 days, a day longer than last week. It is not a buyer’s market, but it is not a seller’s one either. If you are selling, buyers are pushing back on price, and you may need to adjust if you want a deal. If you are buying, you have more room to negotiate than you did last year, but affordability remains a real challenge.

New construction

Brand new homes are still commanding higher prices, but the market is shifting here too. The median price for a new build dropped by $12,462 to $653,391. That is a much bigger move than the resale side, and it suggests that builders are starting to get more flexible. There are 395 new homes for sale, just seven fewer than last week, so supply is holding steady. The typical new home is sitting on the market for 63 days, which is a long wait compared to resale.

New construction pending prices jumped up by $25,699 to $660,539, even though the number of buyers signing contracts slipped by two. The typical new build that goes under contract is doing so after 61 days, about the same as last week. My take is that builders are still finding buyers willing to pay a premium, but only for very specific homes or incentives. For most buyers, the higher sticker price combined with a longer wait means new construction is still a tough sell unless the deal is just right.

The bigger picture

The 30-year fixed mortgage rate averaged 6.66% as of July 30. That is not the relief buyers were hoping for, and it means a typical Boise home now comes with a monthly payment well north of $3,000. With the Federal Reserve signaling no rate cuts soon and inflation staying stubborn, do not count on borrowing costs dropping in the near future. For sellers, this means fewer buyers and more negotiations. For buyers, it means stretching the budget or getting creative with offers.

Nationally, slower economic growth and new tariffs on building materials will likely keep a lid on both inventory and affordability here in Boise. If you are watching the market, the big reports to watch in August are jobs and inflation, both of which could nudge rates up again. Until something breaks that cycle, expect this slow, cautious market to stick around.

Even though the market feels stuck, it is not a bad time to make a careful move...just do it with your eyes wide open. If you are selling, listen to the feedback and price accordingly. If you are buying, do not be afraid to negotiate, but stay realistic about what your budget can truly handle. Sometimes the best opportunities show up when everyone else is waiting on the sidelines.