If you compare this year to last year the market doesn’t look that strong. But if you throw out last year and its tax credit skewed sales we are looking okay. We certainly haven’t seen a full recovery but transactions are still happening every day. Actually the number of transactions happening is accelerating and we are looking for a few really good months of activity.
- Total sales in Boulder County are down 20% from last year. But because of the tax credit in 2010 it’s not comparing apples to apples. 2009 had similar market conditions and so far in 2011 sales are 6% above 2009 sales through May.
- We have had good market activity since mid-may. We are at the highest level of the year for contracts accepted on a weekly basis. We should be making up the sales shortfall in the coming months.
- FHFA reported the largest price decline in Boulder since they have been keeping track. -2.76% for the year ending March 31st.