Interest rates cause for pause

CDA Press Article:

By BILL BULEY
Staff Writer | October 12, 2023 1:08 AM

COEUR d’ALENE — Despite high mortgage interest rates, Kootenai County’s housing market is holding steady.

According to the Coeur d’Alene Regional Realtors, the median price of a single-family home in Kootenai County was $525,000 in September, the same as August but down from $550,000 one year ago.

The number of active residential listings as of Oct. 4 was 1,058, down 4.2% from 1,104 last month, but up from 1,014 at the same time last year.

The number of single-family homes in Kootenai County sold through September totaled 1,660, down nearly 20% from September 2022.

Realtor Lindsay Allen, north district vice president for the Idaho Realtors and past president of Coeur d’Alene Regional Realtors, said mortgage interest rates of around 8% have made both sellers and buyers cautious.

“It pauses a lot of buttons,” she said...

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