From Renting to Owning: Why Now is the Perfect Time to Make the Move

contentbynani
Mar 18
2 min read

If you’re currently renting in Ada or Canyon County, you might be wondering if homeownership is within reach. With rental prices rising and mortgage rates stabilizing, now is a great time to explore the possibilities of investing in a home instead of continuing to rent.

Let’s dive into the latest market trends and what they mean for renters looking to make the transition to homeownership.

Market Overview: Ada County

New Listings: 366 (⬆ 2%)
Average Listing Price: $717,190 (⬆ 3%)
Average Sold Price: $652,830 (⬆ 1%)
Homes Sold: 184 (⬆ 11%)
Total Active Listings: 1,671 (⬆ 5%)
Pending Sales: 202 (⬇ 6%)
Months of Inventory: 2.3 (⬇ 5%)

🔑 What This Means for You: More homes are coming onto the market, which gives you more options as a buyer. The slight increase in home prices shows a steady and strong market, meaning your investment is likely to hold its value.

Market Overview: Canyon County

New Listings: 167 (⬇ 11%)
Average Listing Price: $565,336 (⬆ 0%)
Average Sold Price: $463,133 (⬇ 9%)
Homes Sold: 106 (⬆ 23%)
Total Active Listings: 1,007 (⬆ 0%)
Pending Sales: 147 (⬆ 15%)
Months of Inventory: 2.6 (⬆ 0%)

🔑 What This Means for You: While new listings have slowed down, homes are selling quickly—a sign that buyers are taking advantage of competitive pricing. With the average sold price dipping, buyers could negotiate better deals in Canyon County.

Why Now is a Great Time to Buy If You’re Renting

💰 Are you paying $2,000+ in rent? You could be putting that money into a mortgage instead of your landlord’s pocket. Homeownership builds equity and gives you stability.

🏡 More options on the market. With inventory increasing and prices remaining steady, this is a prime opportunity to find a home that fits your budget.

📉 Negotiation Power. With price adjustments happening, sellers are more motivated to work with buyers—meaning potential seller incentives or lower closing costs.

🔄 Rents will keep rising, but your mortgage won’t. A fixed-rate mortgage gives you predictability and financial security, while rent continues to increase year over year.

Take the Next Step Toward Homeownership

At House of Palmer, we specialize in helping renters transition into homeownership. Whether you need help understanding financing options, finding a starter home, or working with lenders for low-down-payment programs, we’re here to guide you every step of the way.