In times of change (like now), it’s valuable to look at the fundamentals of our market.
Let’s have some fun with fundamentals…
1. Our economy is healthy – since 1990, the unemployment rate in Colorado has never been higher than the U.S. unemployment rate. Ever. Unemployment in Colorado sits at 2.7% today while the rate across the U.S. is 4.0%.
2. People keep moving here – since 2005 our population has grown by just over a million people which is roughly 77,000 per year (about the size of Mile High Stadium).
3. Our real estate outperforms other places – according the Federal Housing Finance Authority, Colorado is the #1 state for home price appreciation since 1990.
Here’s how the largest Colorado cities rank on the most recent Federal Housing Finance Authority’s quarterly report. They study the appreciation rate in 245 metropolitan areas all over the country.
Boulder 65th 8.76%
Colorado Springs 15th 11.54%
Denver 30th 10.16%
Fort Collins 85th 7.51%
Grand Junction 58th 9.01%
Greeley 45th 9.51%
Did you know the average price appreciation over the long term, according to the Federal Housing Finance Authority (who’s been studying this for 40+ years) is…
· 5.63% per year for Metro Denver
· 5.35% per year for Larimer County
· 4.5% per year for Weld County
If you want to be totally clear on all the stats, facts and trends in Colorado real estate so that you know what the future value of your home looks like, watch this video.
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