History repeating: Inventory down, prices up early in 2017

One month does not a pattern make. But if it’s one month that looks a lot like the previous 12? That’s an indication that this year’s housing market could be shaping up to look a lot like last year’s.

That’s what we can determine after the first month of housing sales in 2017. As throughout 2016, buyers in January continued to be squeezed by tight inventory across much of Northern Colorado, which fueled the continuing increase in home prices.

Adding up inventory for our six submarkets, housing…