Treasure Valley Housing Market Update: Buyers Are Back, But Prices Are Not Surging

Treasure Valley Housing Market Update: Buyers Are Back, But Prices Are Not Surging

Treasure Valley housing market update: May 2026 brought one of the more interesting housing reports we have seen in a while. Sales activity increased sharply in both Ada County and Canyon County, but home prices did not surge.

That is the key story for May.

Buyers are coming back into the market, but sellers are not seeing the runaway price growth we saw a few years ago.

For Idaho homebuyers, homeowners, and Realtors, this is important because it tells us the market is active, but still more balanced than the crazy 2020-2022 market.

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Quick May 2026 Treasure Valley Snapshot

County	May 2026 Sales	Year-Over-Year Sales Change	May 2026 Median Price	Year-Over-Year Price Change
Ada County	1,001	Up 18.46%	$575,900	Down 0.69%
Canyon County	522	Up 12.02%	$444,900	Up 2.63%

That table tells the whole story: more homes are selling, but prices are not exploding.

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1. Ada County Housing Market: More Sales, Flat Prices

Ada County had a strong month for closed sales. In May 2026, there were 1,001 single-family homes sold compared to 845 in May 2025. That is an 18.46% increase in sales activity.

At the same time, the median sales price dipped slightly from $579,900 in May 2025 to $575,900 in May 2026.

That means Ada County buyers were more active, but they were not bidding prices sharply higher.

Ada County Key Numbers

• Total active residential listings: 1,833
• Total pending residential listings: 1,478
• Total single-family homes sold: 1,001
• Median price: $575,900
• Average price: $683,136
• Days on market: 33

The most important number may be days on market. Ada County homes averaged 33 days on market in May 2026, almost identical to the 34 days reported in May 2025.

That tells me buyers are active, but they are still price-sensitive.

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2. Canyon County Housing Market: Sales Up and Prices Still Climbing

Canyon County also saw more sales activity in May. Total single-family home sales increased from 466 in May 2025 to 522 in May 2026, a 12.02% increase.

Unlike Ada County, Canyon County also saw a modest increase in median price. The median price rose from $433,490 in May 2025 to $444,900 in May 2026.

Canyon County Key Numbers

• Total active residential listings: 1,088
• Total pending residential listings: 850
• Total single-family homes sold: 522
• Median price: $444,900
• Average price: $513,372
• Days on market: 44

Canyon County remains more affordable than Ada County, which is one reason demand continues to hold up in places like Nampa, Caldwell, Middleton, and surrounding areas.

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3. What This Means by City

The May 2026 data is reported at the county level, but buyers and homeowners do not think in county-wide averages. They think in terms of specific communities like Boise, Meridian, Nampa, Caldwell, Eagle, Kuna, Star, and Middleton.

Here is how the county-level trend may show up across the Treasure Valley.

Boise Housing Market

Boise remains one of the most watched housing markets in Idaho. With Ada County sales up sharply but prices essentially flat year-over-year, Boise buyers may still find opportunities if homes are priced correctly. Sellers should not assume pandemic-era bidding wars are back, but well-priced Boise homes can still attract strong attention.

Meridian Housing Market

Meridian continues to be one of the most popular areas for families, move-up buyers, and relocation buyers. The May data suggests buyers are active, but payment sensitivity remains a major factor. Meridian sellers should focus on realistic pricing and strong presentation.

Eagle Housing Market

Eagle typically operates at a higher price point than much of the Treasure Valley. With Ada County prices mostly flat, Eagle buyers may have more breathing room than they did during the peak market. Higher-end sellers should pay close attention to days on market and recent comparable sales.

Kuna Housing Market

Kuna continues to benefit from buyers looking for more space and relatively more affordable options within Ada County. If buyers are priced out of Boise or Meridian, Kuna may remain an important alternative, especially for buyers focused on monthly payment.

Star Housing Market

Star has seen significant growth over the last several years, especially with new construction. The May numbers show that new construction remains an important part of the Ada County market. Buyers comparing Star homes should look closely at builder incentives, rate buydowns, and seller credits.

Garden City Housing Market

Garden City is a smaller but unique part of Ada County, with a mix of infill, redevelopment, and established homes. In a flatter price environment, condition, location, and property type matter even more.

Nampa Housing Market

Nampa remains one of the most important markets in Canyon County. With Canyon County sales up and prices rising modestly, Nampa buyers are still active. Nampa may continue to attract buyers looking for more affordability compared to Boise and Meridian.

Caldwell Housing Market

Caldwell continues to offer relatively more affordable options within the Treasure Valley. The Canyon County data shows modest appreciation, which suggests demand is still present, but buyers remain careful about payment and value. Caldwell homeowners may still be seeing stable demand, especially when homes are priced appropriately for current market conditions.

Middleton Housing Market

Middleton has become increasingly popular for buyers looking for a smaller-town feel with access to the Treasure Valley. With Canyon County showing continued price growth, Middleton homeowners may still be seeing stable demand.

Parma, Melba, Wilder, and Homedale Housing Markets

Smaller Canyon County communities such as Parma, Melba, Wilder, and Homedale may appeal to buyers looking for space, affordability, or rural property options. These areas can also be important for buyers considering USDA financing, depending on property eligibility and current program guidelines.

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4. Existing Homes vs. New Construction

One of the biggest differences in the Treasure Valley right now is the split between existing homes and new construction.

Ada County Existing Homes

Ada County existing home sales increased 21.15% year-over-year, with 693 existing homes sold in May 2026 compared to 572 in May 2025.

The median price for existing homes in Ada County was $575,000, down 1.71% from May 2025.

That means existing homes are moving, but buyers are not chasing prices higher.

Ada County New Construction

New construction in Ada County also had a solid month. New home sales increased 12.82% year-over-year, with 308 newly constructed homes sold in May 2026.

The median price for new construction was $575,995, almost unchanged from May 2025.

Canyon County Existing Homes

Canyon County existing home sales were especially strong. Existing home sales increased 23.53% year-over-year, with 315 existing homes sold in May 2026 compared to 255 in May 2025.

The median price for existing homes in Canyon County was $420,000, up 2.44% year-over-year.

Canyon County New Construction

Canyon County new construction showed a different pattern. New construction sales were slightly down year-over-year, falling from 211 sales in May 2025 to 207 sales in May 2026.

However, the median price for new construction increased from $450,000 to $479,990, a 6.66% increase.

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5. Why Are Sales Up But Prices Flat?

This is the question buyers and sellers should be asking.

Normally, when sales increase, people expect prices to jump. But that is not what May’s numbers show.

There are a few likely reasons:

• Inventory is healthier than it was during the pandemic market.
• Mortgage rates are keeping buyers payment-sensitive.
• Builders are competing with existing homes.
• Buyers are willing to purchase, but not at any price.
• Sellers who price correctly are getting activity.

This is not the frantic seller’s market of 2021. It is also not a frozen market.

It is a more normal market where pricing, condition, location, and financing strategy matter again.

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6. What This Means for Idaho Homebuyers

If you are buying a home in Boise, Meridian, Nampa, Caldwell, Kuna, Eagle, Star, or Middleton, the May data shows that you are not alone. Buyers are clearly back in the market.

But the good news is that prices are not running away from you like they did a few years ago.

That means buyers may still have opportunities, especially if they are prepared.

Buyer Takeaways

• Get pre-approved before shopping.
• Compare payment, not just price.
• Do not assume every home will have multiple offers.
• Look closely at both existing homes and new construction.
• Ask about seller credits, rate buydowns, and Idaho Housing options.

The buyers who are best prepared are usually the ones who have the most negotiating power.

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7. What This Means for Homeowners

If you already own a home in the Treasure Valley, the May data is encouraging, but not explosive.

Ada County values are basically flat year-over-year. Canyon County is showing modest appreciation.

That is actually a healthy sign.

Homeowners should not expect the huge equity jumps we saw during the pandemic years, but the market is still showing stability.

Homeowner Takeaways

• Your home value may still be holding well.
• Pricing too aggressively can backfire.
• Condition matters more than it did in the frenzy market.
• Homes can still sell, but buyers are more selective.
• Equity may still be useful for move-up buying, debt consolidation, or future planning.

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8. What This Means for Sellers

Sellers should be encouraged by the increase in closed sales and pending sales.

But the flat price data is a warning: buyers are active, not desperate.

The homes that are priced correctly, marketed well, and show well are still moving. The homes that are overpriced may sit.

Seller Takeaways

• Do not price based on 2021 headlines.
• Study current comparable sales, not old peak-market sales.
• Be realistic about condition and buyer expectations.
• Consider seller credits if the buyer’s payment is the issue.
• Work with a Realtor who understands current buyer behavior.

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9. What This Means for Realtors

For Realtors, the May report is a great conversation starter with both buyers and sellers.

Buyers need to understand that waiting for a crash may not be realistic. Sellers need to understand that pricing like it is 2021 is not realistic either.

The market is moving, but it is moving differently.

This is a market where education wins.

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10. My Read on the Summer 2026 Market

Based on May’s numbers, I expect the summer market to remain active but price-sensitive.

If mortgage rates move lower, we could see more buyer demand quickly. If rates stay higher, buyers will likely continue to focus heavily on payment, seller credits, and affordability.

The biggest thing to watch over the next few months will be whether increased sales activity eventually pushes prices higher or whether inventory keeps the market balanced.

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The Bottom Line

The May 2026 Treasure Valley housing market is not dead. It is not crashing. It is not exploding either.

Buyers are back.

Sales are up.

Pending contracts are up.

But prices are mostly stable.

For buyers, that means opportunity still exists.

For homeowners, that means values are holding better than many expected.

For sellers, that means the market is active, but pricing still matters.

If you are thinking about buying, selling, refinancing, or using your home equity in Idaho, this is a good time to review your numbers and understand your options.

Contact 1st Choice Mortgage to review your Idaho mortgage options.

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Frequently Asked Questions

Are home prices going up in Ada County?

In May 2026, Ada County’s median single-family home price was $575,900, down slightly from $579,900 in May 2025. That means prices were essentially flat year-over-year.

Are home prices going up in Canyon County?

Yes, modestly. Canyon County’s May 2026 median price was $444,900, up 2.63% from May 2025.

Are buyers coming back to the Treasure Valley housing market?

Yes. Closed sales increased in both Ada County and Canyon County in May 2026 compared to May 2025.

Is the Boise housing market crashing?

No. The May 2026 data does not show a crash. It shows stronger sales activity with mostly flat pricing in Ada County and modest appreciation in Canyon County.

Is now a good time to buy a home in Idaho?

That depends on your budget, payment comfort, loan program, and long-term plans. The market is more balanced than the pandemic years, which may give prepared buyers more options.

Should homeowners worry about falling prices?

Not based on this report alone. Ada County prices are mostly flat, while Canyon County continues to show modest year-over-year price growth.

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Data Sources & Methodology

The housing market data referenced in this article comes from the Intermountain Multiple Listing Service (IMLS) monthly market reports released in June 2026 and reflects May 2026 residential housing activity throughout Ada County and Canyon County, Idaho.

The statistics referenced include active listings, pending sales, closed sales, median sales prices, average sales prices, days on market, year-over-year comparisons, and separate reporting for both existing homes and new construction.

County-level housing data is used because it provides the most comprehensive view of market activity across the Treasure Valley. Individual city markets, neighborhoods, price ranges, and property types may perform differently than county-wide averages.

While this report focuses on county-wide housing trends, market conditions can vary significantly between individual communities. Buyers and sellers in Boise, Meridian, Eagle, Kuna, Star, Garden City, Nampa, Caldwell, Middleton, Parma, Melba, Wilder, Homedale, and other Treasure Valley communities should review current local market conditions and comparable sales before making real estate decisions.

Because Boise, Meridian, Eagle, Kuna, Star, Garden City, Nampa, Caldwell, Middleton, Parma, Melba, Wilder, and Homedale are all part of the broader Treasure Valley housing market, county-level trends often influence local pricing, inventory, and buyer demand throughout these communities.

Sources:

• Intermountain Multiple Listing Service (IMLS) - Ada County Market Report, May 2026
• Intermountain Multiple Listing Service (IMLS) - Canyon County Market Report, May 2026

Market statistics are believed to be accurate at the time of publication but may be revised by the reporting source. Past performance does not guarantee future housing market results. County-wide statistics are used for general market education and should not be treated as a guarantee of value for any specific property, neighborhood, or city.