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Colorado Housing Lovely Stats In honor of Valentine’s Day, here are some Northern Colorado stats we think you will love: Prices are up 3.5% compared to last year Inventory is up 10% which means there is more selection for buyers We just had the most active January in terms of closings in over 10 years Well over 13,000 residential […]
Fun Facts Supply and Demand Northern Colorado gave us a real-life economics lesson in January 2020. Compared to one year ago… Inventory was down 10% (Supply) Homes under contract went up 31% (Demand) Prices were up 5% (Result)   If you would like to see a video recap of our annual Market Forecast you can watch that HERE.
Buyers Affordability Housing affordability is a hot topic especially after the strong price appreciation that has occurred in our market over the last 7 years. Here’s some interesting research on affordability… Each quarter the National Association of Home Builders measures affordability in hundreds of markets across the Country. Their method is to count the number of homes in […]
Fun Facts Millennial Buyers Millennials often get a bad rap.  One of the myths about Millennials is that they don’t own homes and will be renters forever. Not true!  Especially on the Front Range of Colorado. Based on research by our very own Chief Economist, Matthew Gardner, Millennials make up a significant percentage of all home buyers in Metro […]
Fun Facts Zero Correlation It’s an election year which means that our clients are asking us if election years impact real estate. According to research done by Real Trends there is zero correlation between election years and the number of transactions in the market compared to non-election years. They found that sales were down in 1980, 1988, and 2008 compared to […]
Fun Facts Big Numbers It turns out a lot of real estate changes hands over the course of a year in our market. In 2019 Metro Denver had… Over 56,000 residential sales Over $28 Billion of residential sales volume Overall, 2019 saw a slight increase in the number of transactions compared to 2018 and approximately a 5% increase in […]
Economics 101 Save Your Spot A quick, simple Fun Fact for you this week… It’s time to sign up and register for our annual Market Forecast event. We will be live in Denver on January 15th at the Wellshire Events Center. And In Fort Collins on January 16th at the Marriott. Both events start at 5:30.  Choose which location works best for you. Matthew […]
Fun Facts The 12 Facts of Real Estate While your true love may be getting you a partridge in a pear tree in the near future, we decided to give you the 12 facts of Colorado real estate: 1 is the ranking Colorado owns for long-term home price appreciation versus all other states 2.6% unemployment rate in Colorado right now 3.73% mortgage rate for […]
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Fun Facts Vital Signs Here are the vital signs for the Northern Colorado market. First, Larimer County: Average prices are up 2.4% Number of transactions is down 2.5% Inventory is up 11.9% Days on market is up 4.1% Now, Weld County: Average prices are up 4.3% Number of transactions is up 3.6% Inventory is up 12.9% Days on market is […]
Blog County by County Metrostudy, who in our opinion is the leader in new home research, recently did a study on the average price of a new home in each of the Front Range Counties. Here are some interesting takeaways…   If you want to find the least expensive new home on the Front Range, the places to look […]
Blog Job News There is an abundance of great news when it comes to employment in Colorado. The unemployment rate is incredibly low at 2.7% which is almost a full percentage point lower than the U.S. average. According to the Bureau of Labor Statistics, Metro Denver added 28,300 jobs over the last year which ranks 15th out of […]
Fun Facts Two Tales   This is a Tale of Two Counties. When it comes to new home activity, there is a big difference between Larimer and Weld Counties. Larimer County’s new home starts are down 10% and new home closings are down 15% compared to last year. Weld County’s new home starts are up 18% and new home […]
Blog All Time High     Home Builder’s confidence in Baby Boomer buyers is at an all time high. The National Association of Home Builders (NAHB) surveys their members each quarter to discover what they expect of future sales.   The builders base a large part of their answer on how many people are visiting their sales centers and […]
Blog Time for New   Here is a fact… If you have ever thought about owning a new home, the last two months of the year are usually the best time to make that happen. Here’s why… Many builders have year-end goals and sales quotas to hit.  If they have a “standing inventory” of homes that are completed but […]
Blog Most Active   What is the most active price range in Northern Colorado?  Take a guess… $300,000 to $400,000 $400,000 to $500,000 $500,000 to $750,000 $750,000 and above By far, the most active price range is $300,000 to $400,000 with 60% more closed transactions than the $400,000 to $500,000 range and 400% more than homes priced $750,000 and […]
Blog Equity Insights The real estate research firm Core Logic just produced their latest Homeowner Equity Insights report.       Some interesting tidbits: ·         63% of all properties nationally have a mortgage ·         Homeowners with mortgages collectively realized a $428 billion rise in equity over last year, an increase of 4.8% ·         Only 3.8% of all mortgaged properties have negative […]
Blog Net Worth It’s no surprise that for just about every homeowner, their real estate represents the largest portion of their net worth. Check out these numbers from the Federal Reserve’s Survey of Consumer Finances: Median Net Worth in the U.S. = $97,300 Median Net Worth of a Renter = $5,200 Median Net Worth of a Homeowner = $231,400 […]
Blog Reduced Some fascinating research from the Denver Metro Association of Realtors… 37% of properties that sold last month along the Front Range had a price reduction at some point during the listing period. Property owners who have to reduce their price take an average of 58 days to receive an offer. Those who don’t have to […]
Blog Big Bounce Seventy-five major metro markets have seen home prices bounce back to above their pre-recession peaks. Metro Denver has seen the biggest bounce with home values 91% above its previous high in 2007 , according to the Home Price Recovery Index from HSH.com. “Aside from routinely strong home price appreciation, it’s important to know that the […]
Blog Rate Bounce Rates hit near-historic lows this week and are now at 3.49% for a 30-year mortgage. There have only been two other times in history when rates have been this low- April 2013 and October 2016. It’s interesting to see what happened soon after bottoming out these last two times. In April of 2013 rates hit […]
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