Sold homes increased 63% in July!

July numbers released by MLS paint an interesting picture!
 
The buyer tax credit certainly had an effect on the market and continues to after its expiration (note buyers under contract by April 30th still have until September 30th to close). My personal business has me believe that most people who bought a home were probably going to anyway. The tax credit was an added incentive! So in that regard, it seemed to get people off the fence and into homes. It created some demand and we certainly saw a decrease in marketing time and even some multiple contract offers on homes.
 
What cannot be measured (yet) is the real effect it will have on the local economy. For example, of the people who recently purchased a home how many of them went on to improve the home by purchasing furniture, electronics, appliances, home improvement goods, etc…
 
 
The effects of the tax credit are still being felt. Home sales for the Denver Metro area for the month of July decreased 28% over July of last year. Highlands Ranch, however, had a completely different outcome for the month of July. 124 homes sold in the month of July a 63% increase over July 2009. We aren’t immune, though. The 124 homes sold also represents a 17% decrease from the month of June and a 27% decline from the month of April. I don’t anticipate the trend to continue for August as 145 homes went under contract in July a 16% increase over June.
 
It will take some more time to truly gauge the Buyer’s Tax credit and it’s true effect on our local market. If the housing market is anything like the auto industry (remember cash for clunkers?) then I would anticipate a 3-6 month lull in sales volume. My brother is an auto salesman and it was his belief that cash for clunkers brought in tomorrows car buyers today and there was nothing to fill the void afterwards.
 
I am excited about this market and the opportunities it presents! If you are looking to buy or sell a home in Highlands Ranch, be sure to give me a call today! I will be happy to help you assess the market and answer any questions you have.
 
Thanks for reading this!
Joe Hildebrand
 
Joe Hildebrand is a Highlands Ranch real estate agent at RE/MAX Unlimited
Phone: (303) 671-3078 joehildebrand@remax.net

Joe Hildebrand specializes in Highlands Ranch real estate Highlands Ranch Homes Highlands Ranch Realtor

 

3 Responses to “Sold homes increased 63% in July!”

  1. I don’t usually reply to posts but I will in this case. WoW :)

  2. gary says:

    Are you guys seeing short sales just dominate your market?

  3. johnny says:

    Do you think the real estate market will be turning around soon?

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