August 2010 Housing Inventory Declining Market Report

Although recent articles about the U.S. housing market these days paint a mediocre picture of housing prices and inventory, Fort Collins continues to see a decline in its housing inventory and a rise in the median sales price.

We tend to pay attention to the amount of inventory available on the market because a decline in the number of homes available for sale typically means that the demand for houses increases because there are less available homes to go around to prospective buyers.

These two numbers, the median sales price and number of homes available, show that the market has improved some this year. One of the things that has made this year unique is the expiration of the first-time home buyers tax credit. If you look at the YTD $ Volume in May and June, you’ll see that Fort Collins was 22.7% ahead of last year, but if you look at the YTD $ Volume in Aug you’ll notice that the gap narrowed to 8.5% ahead of last year. I’m very interested to see how we finish the year in Fort Collins.  Either way, this remains a good time to buy.