Yipee!! Sales Increase for 1st Time Since August 2007

I’m pretty excited!  For the first time since August of 2007, year over year sales of residential real estate increased in Boulder County.  It is still early and final numbers won’t be in for a few days yet but so far residential sales are up 11.1% compared to last October.  When you throw condos into the mix sales are up 6%.  Not earth shaking and just one month but after seeing 25 straight months with fewer sales than the year before it is nice to change that broken record.

The first time homebuyer credit definitely helped and last October we were in the hangover from the first blows of the economic meltdown but a gain is a gain.  I am more bullish for the coming months than I was a year ago, that’s for sure.  Real estate is driven by jobs and I think the job recovery will be slow.  However, for those who already have jobs any signal of hiring will promote consumer confidence.  I for one am looking forward to 2010.