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Mesa County Behind National Home Sales Growth

by KREX News Room
by Danielle Kreutter

Story Created: Sep 19, 2012 at 9:35 PM MDT

Story Updated: Sep 20, 2012 at 8:49 AM MDT

GRAND JUNCTION, Colo.- A report released by the National Association of Realtors says there are positive trends that may be an indication of an improving economy.

August sales of previously occupied homes rose 7.8 percent to the highest level in more than two years.

However, Mesa County as a whole is not experiencing the same trend.

"Our inventory's down 36 percent from this time compared to last year, so we don't have as much inventory out there and therefore, there aren't as many sales right now," said Michael Burkhard, incoming chairman of the Grand Junction Area Realtor Association.

In 2011, Mesa County had 1,237 active residential listings; that number has gone down to 910 for 2012.

"There's a lot more requirements for the buyers to have, with fewer assistance programs like they did before when they had the tax credit for first time homebuyers and those things," said Burkhard. "There aren't any of those programs out there right now, and so there's not as many options for buyers and that might be part of the reason that they're not getting out there and buying."

Burkhard does say there are pockets of positive activity in the valley.

Those at Bray and Company Real Estate say they may be one of those pockets.

"Every community is different, so I can appreciate that the national rate is about short of 8 percent, but we're seeing a similar trend up," said Robert Bray, president.

Their home sales transactions are up 13 percent over last year and their August sales beat their previous numbers by 21 percent.

"We're better than we have been the last two or three years in terms of number of transactions and medium prices are starting to move up, but we're still short of where we were five and six years ago," said Bray.

The national increase led to a seasonally adjusted annual rate of 4.82 million, which is still below the 5.5 million that economists would then consider a healthy market.

Officials say this is because even though there is recovery, it's from a depressed level.

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