The Conoco Phillips Effect [Trends]

Since Conoco Phillips (COP) announced the purchase of the former StorageTek facility, there's been a lot of buzz about how the local housing market will be impacted.

Generally, a new large employer is a catalyst - driving up prices for property within short commuting distance. Given the green/alternative energy/sustainability angle to this employer's intentions, the effect may be particularly enhanced in places like Superior and Broomfield (i.e. biking distance).

You've seen many charts on the blog about Boulder's elevated inventory. Now take a look at Broomfield (as published in the latest Silver Fern Report):

Notice a trend?

Developers, such as Pulte have also scaled back their ambitions in Broomfield. As fewer new homes are constructed, this is also contributing to the decrease in inventory on the MLS.

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