It has been six days since the expiration of the Homebuyer Tax Credit and to be frank the activity this week has been a bit slow. This is understandable since those buyers who qualified had a big incentive to get something done before the April 30th deadline. The chart above shows a full year of data that tracks sold and contract activity in Boulder County in one week chunks. The blue line shows the number of homes that received accepted contracts during any given week and the red line shows the number of homes that actually closed during the week.
You can see that we had a definite upward trend in contracts beginning January 1st and this past week the activity decreased significantly. Sales are up 35% so far this year and we have been consistently ahead of 2009 numbers. That is until this week. If you look to the left you will see that for the week ending May 14 2009 the number of homes that went under contract during that week was greater than the number this past week.
To be fair. Our market was just starting to get rolling a year ago and we have had a strong year so far. I’m hoping that this is just a one or two week hiccup and that we will then continue with a strong spring/summer selling season. From my point of view the stimulus worked.