Yampa Valley Data Partners report states real estate market softened in June

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— Yampa Valley Data Partners’ July release of Fast Facts states that Routt County’s unemployment rate dropped to 6.6 percent for June.

The drop in Routt’s unemployment rate likely is because of seasonal job openings, according to Data Partners. Moffat County’s unemployment rate edged up slightly for June to 6.7 percent compared with 6.2 percent for May.

“The 12 month average unemployment rate in both counties continues to decline, indicating gradual improvement in the labor market,” the report states.

Real estate inventory in both counties was at a year-to-date high for June, according to Yampa Valley Data Partners. Average listing prices in Moffat were up 2 percent for the month compared with June 2012, and prices in Routt were down 15 percent compared with last year.

The report states that this indicates a slight softening of the market compared with earlier in the year.

To reach Michael Schrantz, call 970-871-4206 or email mschrantz@SteamboatToday.com

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Comments

Scott Wedel 1 year ago

That is a misunderstanding of the real estate numbers as to how it reflects the overall market.

More houses listed at a lower average price because recent value increases means fewer lower end homes are underwater and can now be sold. So a relative burst of properties came onto the market because prices increased.

Bank sales were down to 5% of the total sales. That is a huge improvement in the real estate market. No longer are private party sellers having to price their houses to compete with banks trying to liquidate foreclosed properties.

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