The number of single-family homes for sale in Kootenai County is on the rise.

According to the Coeur d'Alene Regional Realtors, there were 1,134 current residential listings as of June 4, a 13.3% increase from a month ago. 

"Inventory is on the rise, which has slightly eased the sense of urgency among buyers," said Jennifer Smock, CDARR president and co-owner, managing broker with Windermere Coeur d'Alene Realty. "With more options available and a small uptick in interest rates this past week, we’ve seen a noticeable impact on showing activity."

The median price of a single-family home in the county was $543,366 in May, up 3.5% from a year ago. 

Through May, 922 single-family homes have sold, an increase of 2.7% from the same time last year. Homes were spending, on average, 96 days on the market.

"The higher price points are experiencing longer days on market than expected for this time of year, while the midrange segment is seeing a modest increase in multiple offer situations, indicating that well-priced homes in that category are still in strong demand," Smock said.

In Shoshone County, the median price of a single-family home was $295,000 in May, up 4.9% from a year ago. Sixty-one homes had sold through May, slightly behind last year's pace, and spent an average of 109 days on the market.

There were 128 residential listings in Shoshone County as of June 4, a 37% increase from one year ago.

According to bankrate.com, the current average interest rate Tuesday for a 30-year fixed mortgage was 6.90%, down slightly from last week. For homeowners looking to refinance, the national 30-year refinance interest rate was 6.97%. Meanwhile, the current average 15-year fixed refinance interest rate was 6.29%.

A new study recently released said it is taking people longer to save for a home, including in Idaho.

The study, conducted by Long Island Homebuyers Leave The Key, analyzed data from the Bureau of Economic Analysis and the U.S. Census Bureau to determine how long the average earner in each state needs to save for a home, a press release said.  

In first place was Hawaii. With housing affordability statistics for 2023 showing that Hawaiian homes reach a median value of $846,400, and with just $489 left over each month after essential expenses, Hawaiians need nearly 29 years to save for a median-priced property.

Idaho ranked ninth, with residents earning an average monthly income of $4,414 needing six years and two months to save up to buy a median-priced home of $428,600. The study said Idahoans would need to work 1,557 days, or 12,452 hours, to afford a home deposit of $42,860.