Thursday, June 21, 2012

NAR's May housing summary: inventory down, prices up in most metros

The Monthly Housing Summary for May has been released by the National Association of Realtors. I've pulled out the data for Colorado metro areas below:

MSA_City MedianPrice MedianPrice_YY Listings Listings_YY MedianAge
Denver  CO $269 000 6.03% 8287
Colorado Springs  CO $230 000 6.97% 3967 -20.32% 63
Boulder-Longmont  CO $377 000 5.65% 2556 -12.36% 55
Fort Collins-Loveland  CO $259 000 3.64% 2637 -11.32% 67
Pueblo  CO $137 350 -1.82% 995 -32.12% 70

United States $194 900 3.17% 1876924 -20.07% 83

Some of the more interesting stats here:

The median age of listed homes - they much older in Pueblo than elsewhere, and much younger in the Denver area.

As expected, listings are much more numerous in Denver than in other metros, and listings are down in all areas. For some reason, Denver doesn't list a year-over-year change in listings, but according to, listings were down 32 percent in the Denver area from May 2011 to May 2012.

The median price was down in Pueblo, year over year, which was expected, although Colorado Springs prices were much stronger in this analysis than in some others we've seen such as the FHFA analysis and the Zillow analysis.