by M. Anthony Carr
Situated in the center of a state-wide economy that has grown while surrounded by states that have deflated in jobs and economic growth, the Boulder, Colorado real estate market has weathered well and continues to grow in 2008.
Richard Wobbekind, an economist with the Leeds School of Business at University of Colorado-Boulder, says the locals there will do better in 2008 than the year before. Meanwhile, home prices have continued upward over the last year, which increased over 2006 numbers, as well.
Wobbekind was quoted on the University's website, saying, "2008 has been the most difficult year we've ever had to forecast," because of the national outlook. "That said, the Colorado economy seems to be going along at a pretty good clip and doesn't seem that shaken by national events, so we think the impacts on Colorado's economy will be more incremental if there is a national downturn."
Where the Boulder market has struggled in the number of homes selling and an increasing inventory, it has made up in continued price growth overall. Home prices in the area have been on an upswing for nearly a year now, after leveling through 2006.
The average home price in the area stands at more than $376,000. Single family dwellers have seen price appreciation over the last three years at about 3 percent per year.
Published: March 14, 2008
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Mr. Carr has covered real estate since 1989. He is the author of