Housing prices edge up

The median price of a single-family home in Kootenai County rose to $544,900 in April, according to the Coeur d'Alene Regional Realtors.

The number of homes sold through the first months of the year totaled 724, a 3.7% increase. The number of current active residential listings as of May 5 was 883, up 13.5 from a month ago, but down about 11% from a year ago.

In Shoshone County, the median price of a single-family home in April was $327,000, up 13.5%, while in Benewah County it was $330,000.

Real estate agents have said the market continues to look solid heading into the busy summer season.

Mortgage rates remain above 6%. According to bankrate.com, the current average 30-year fixed mortgage interest rate was 6.44% on Wednesday. The current average 30-year fixed refinance interest rate is 6.65%, while today's average 15-year refinance interest rate is 5.99%. 

With housing costs consuming up to 50% of the median income in some states, the personal-finance company WalletHub recently released its report on "States Where People Spend the Most and Least on Housing" to highlight where homeownership is least affordable for the average resident.

It found that Idaho residents spend the eighth-highest percentage of income on housing. According to the report, Idaho's average monthly housing cost was just over $2,000

It said the average cost of housing as a percentage of median monthly household income was 30.88%.

“Homeowners and home buyers have faced whiplash over the past few years, with housing prices soaring and interest rates fluctuating from historic lows back up to the highest rates in more than a decade, said Chip Lupo, WalletHub writer and analyst.