Inman news, reports that home prices have risen for the fourth straight month in July, according to the latest report from loan data aggregator and analytics firm CoreLogic. This is good news, but experts have been weighing in that this is only a seasonal spike and come fall, we will see home prices dip once again.
This is nothing new, it is true that home prices tend to fluctuate during the seasons and this year is no different. On a national average home values and average home sales price have risen significantly this summer compared to last summer, showing signs of market improvement. Boulder, in particular has seen similar growth in that average home sales prices have gone up this summer over the 2010 summer. However, the number of homes on the market continue to fall from previous years. We have seen a trend that since 2006 the number of listings per month have followed the same declining trend year after year.
My thoughts: I am optimistic and foresee this next spring being a huge turnaround point for the market. I think that the economy will start turning around, some new government programs will be set up, unemployment will do down, causing people to be less afraid of the market and realized their home values will not magically jump back up to their unrealistic values from 2007. These are the kinds of things that need to happen to turn the economy around.
read the entire article here
Tell me your thoughts?
Matt Ullrich
303.941.2452
ullrich@boulderco.com
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