Fort Collins is Bucking National Trends!

While New Home sales have been falling over the last few months, Fort Collins is fighting back. Year over year sales of new homes have increased 15.4% according to Prudential Rocky Mountain Realtors. In july 314 homes were sold with an average of $252,877, rebounding after a depressing 1st and 2nd quarter. New homes represent less than 1/5 of the housing market but have a larger impact on the economy. For each new home built, 3 jobs and $90,000 in taxes are created.

The national market fell about 1% in July to an adjusted rate of 298,000. A healthy market is generally about 700,000 and the nation is not even pulling half of that. Many buyers backed out of deals on fears that the market would tumble even more come August. General fears about another dip are also keeping consumers from entering the housing market.