The numbers are in and for those, like I who have a glass half full view of things, the numbers continue in a positive direction. Sure, sales are down (see first chart)from last year, and the year before that … but what I focus on is the upward trend lasting through July. Most years our market peaks in May and closings peak in June, but so far we are still on an upward tact into August.
The median prices (see second chart) are holding just fine, thank you. Even with weak sales in the upper quartile, median prices are higher than they have been in quite some time. This is a big positive.
Inventory (see third chart) is just about where it was a year ago and quite a bit below two years ago at this time. The good news is that inventory went down just as sales started to drop. Not a coincidence since many in the Boulder area have not been forced to move. Think about how areas like Detroit are losing jobs in droves and people are forced to sell, well that is not happening here. We are lucky to have a strong and diverse job base.