A wise man once said that “don’t focus on what you once were, focus on what you can be”. Well, if it hasn’t been said before it should have been because it fits in with what I want to say today. I study the Boulder real estate market often and find that, over the past few years, it has been a drag always comparing the market to the past and then justifying it.
From 2005 – 2007 it was the easy credit and “100% mortgages for everyone” that fueled the record number of transactions. It is hard to re-create sales that should not have taken place in the first place. From 2008-2010 the number of sales in Boulder County fell by around 40% annually. The empty echo of a boom that didn’t quite hit locally. Then last year it was the Homebuyer Tax Credit. The tax credit go everyone fired up for the first half of the year but again we fell hollow and we ended up the year about even. This year as we compare it to last it seemed that we were off to a slow start. And we were when we compared it to 2010. But in reality we were just ahead of a year that had similar conditions, 2009.
So here we are coming up on the end of the 2nd quarter and the market is still moving forward. From my seat houses are moving at a pace that we haven’t seen all year. We have forward momentum.
The charts below compare this year to last. We are just now starting to gain ground on the front-loaded 2010 statistics. We have some ground to make up but it seems like we are headed in the right direction. I’m optimistic!