Ranked!

The latest report from the Federal Housing Finance Authority is hot off the press. They rank 241 major metropolitan areas across the U.S. for yearly home price appreciation.

They show that, nationally, home prices have gone up 4.99% over the last 12 months.
Here’s how the major cities rank in Colorado among the 241:
 
#22 Greeley = 7.94%
#27 Colorado Springs = 7.64%
#63 Fort Collins = 6.34%
#133 Denver = 4.83%
#188 Boulder = 3.41%
 
** Interesting fun fact: In the WORST economy of our lifetime (2008 recession), home appreciation in Fort Collins only went down 2.2%. Compare that to places like Las Vegas that went down by over 35%! Now that’s a stable economy.**
Posted on September 6, 2019 at 9:54 am
Fort Collins | Category: Blog, Economics 101, Fun Facts | Tagged , , , , , , ,

Vegas Baby!

 

The results are in from FHFA.gov’s latest ranking of the top performing markets in the U.S.

Each quarter they track 245 cities across the country and rank their real estate markets by home price appreciation.      

 

What’s the highest performing city the the U.S.

Vegas!  Their prices have gone up 17.63% in the last year.

 

How about the worst?

Bloomington, Illinois sits in dead last where prices went down 3.58%

 

Here’s how Colorado cities are ranked:

    • #10 Colo. Springs = 11.41%
• #16 Greeley = 10.68%
• #59 Fort Collins = 8.29%
• #64 Denver = 8.15%
• #97 Boulder = 6.85%

Posted on March 1, 2019 at 9:52 am
Fort Collins | Category: Blog, Fun Facts | Tagged , , , , , , , , ,

Waiting and Waiting

Anytime the market cools off we sometimes hear prospective buyers say “I think I’ll wait for the market to correct, then I’ll buy after prices come way down.”

The reality is this… History shows that this wouldn’t be a good strategy.

Our go-to source on price appreciation is the Federal Housing Finance Authority who produces a quarterly home price index.  They have been tracking Larimer County for 41 years.

Their numbers show:

  • Yearly prices have decreased only 6 times in history
  • The average amount of that decrease is only 1.7%

So, someone who is waiting for prices to drop:

  • Might be waiting a long time
  • Might be disappointed that prices didn’t drop by all that much
Posted on December 14, 2018 at 11:58 am
Fort Collins | Category: Blog, Fun Facts, Market News, Real Estate Market Update | Tagged , , , , , , , , , , ,

Colorado’s Home Price Appreciation Rankings

New Rankings

The new rankings are out from the Federal Housing Finance Authority which ranks all 50 states plus close to 300 individual metropolitan markets for home price appreciation.

We trust this source because they track actual sales of individual homes versus simply looking at average prices. Their home price index is one of the key pieces of research that we follow closely.

There are a few significant items in their latest report (which is hot off the press).

  • Colorado is ranked 2nd for one-year appreciation, 5th for five-year appreciation and 1st for twenty five-year appreciation. Prices across Colorado have increased 324% since the end of 1991.
  • Fort Collins/Loveland is ranked 10th out of all the metro areas for one-year appreciation with a 12.1% increase.
  • Greeley is in at 21st with 10.73% appreciation

In case you are curious, the hottest market in the country is Mount Vernon, Washington with 15.1% yearly appreciation. Atlantic City is ranked last with a 0.8% price decrease.

It’s clearly “good to be us” as we are one of the highest-performing markets over the long-haul.

Check out the FHFA recap video here:

Here is the data straight from FHFA’s report:

U.S. house prices rose 1.6 percent in the second quarter of 2017 according to the Federal Housing Finance Agency (FHFA) House Price Index (HPI).   House prices rose 6.6 percent from the second quarter of 2016 to the second quarter of 2017.  FHFA’s seasonally adjusted monthly index for June was up 0.1 percent from May.

The HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.  FHFA has produced a video of highlights for this quarter.

Significant Findings

  • Home prices rose in 48 states and the District of Columbia between the second quarter of 2016 and the second quarter of 2017.  The top five states in annual appreciation were:  1) Washington 12.4 percent; 2) Colorado 10.4 percent; 3) Idaho 10.3 percent; 4) Florida 9.4 percent; and 5) Utah 9.2 percent.
  • Among the 100 largest metropolitan areas in the U.S., annual price increases were greatest in the Seattle-Bellevue-Everett, WA (MSAD), where prices increased by 15.7 percent.  Prices were weakest in New Haven-Milford, CT, where they rose by 0.1 percent.
  • Of the nine census divisions, the Pacific division experienced the strongest increase in the second quarter, posting a 2.6 percent quarterly increase and a 8.9 percent increase since the second quarter of last year.  House price appreciation was weakest in the Middle Atlantic division, where prices rose 0.8 percent from the last quarter.

Source: FHFA

Posted on September 1, 2017 at 8:35 am
Fort Collins | Category: Colorado Real Estate, Economy | Tagged , ,