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Blog 2 to 3 Along the Front Range we have gone from two weeks of inventory to three weeks. For much of the Spring, there was only two weeks of inventory on the market in most areas. Meaning, it would only take 14 days to sell all of the homes currently for sale. Now, because the pace of sales has slightly […]
Blog Double Up Here’s an interesting stat based on the most recent U.S. Census. (although you won’t be surprised to hear this) Since 1990, Colorado’s rate of population growth is double the Nation’s rate of population growth. Here are the numbers since 1990: 30.3% growth in the U.S. 62.3% growth in Colorado So, the Nation grows at roughly […]
Blog Inventory Uptick We are noticing a trend that is very good news for buyers. Inventory has been increasing over the last month which means that buyers now have more properties to consider. Just in the last week, the number of homes for sale has increased: 13% in Larimer County 12% in Weld County 11% in Metro Denver […]
Blog Local Nuances “All markets are local” is a commonly used phrase in real estate. This adage is proving to be true as we notice slight changes recently in the market. Bottom line, the market, in some locations, is not behaving exactly like it did even 30 days ago. Properties that perhaps would have received 10 or more […]
Blog High Average If you watch the weekly statistics that we produce and post on social media, a number that might be jumping off the screen at you is the average price. Specifically, it is the percentage increase in average price versus last year that is striking. We are commonly asked ‘how could average prices increase 20% to […]
Blog Colorado Ranking Here’s the latest from one of our favorite data sources – the Federal Housing Finance Authority (FHFA). They track home prices across the Country and produce a quarterly Home Price Index report. It is not uncommon to find Colorado near the top of the list for year over year price growth. The latest report has […]
Blog Words Matter A common phrase that is being used right now to describe the market is ‘no inventory.’ ‘There’s no inventory’ is said frequently among those inside and outside of the real estate industry. The problem with this phrase is that it is untrue. There is inventory.  Meaning, there are a significant number of new listings hitting […]
Blog Calculated Risk The economic research blog called “Calculated Risk” just completed a fascinating study on home prices. Specifically, they looked at the correlation between home price growth and inventory. They used price data from the Case-Shiller Home Price Index and inventory data from the National Association of Realtors. No surprise, they found that the lower the inventory […]
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Blog Tax Confusion Did you know the value of your property according to the County Assessor is not the value of your property today? Property owners up and down the Front Range recently received a postcard from their local County Assessor’s office with their new valuation. Colorado properties are reappraised every two years on odd years.  The updated […]
Blog 5.5 Million Short New home construction is behind by 5.5 million homes over the last 14 years. Since 2007, new home starts have lagged significantly behind the long-term average. The Census Bureau started tracking National new home starts in 1958. Between 1958 and 2007, an average of 1,102,938 new homes were started each year. Between 2007 and 2020 the […]
Blog Drastically Different Recently it seems there are many attempted comparisons being made between today’s real estate market and the 2006-2007 market. It seems that people fear a repeat of what happened to the market in 2008 and 2009. Buyers, understandably, want to make smart decisions and don’t want to buy in advance of any downturn. The reality is […]
Blog Colorado Bound The 2020 Census confirms what we already know – Colorado is popular! It turns out that many people have been Colorado-bound over the last 10 years. Our state has grown by the equivalent of one Mile High Stadium’s-worth of people each year over the last 10 years. Here are the numbers: 2020 population is 5.77 […]
Blog Future of Work This week we had the opportunity to hear a presentation by Ed McMahon who is the Senior Fellow for Sustainable Development at the Urban Land Institute.   He is a leading expert on the future of housing and development in the United States.   He sees that Colorado is positioned to massively benefit from the […]
Blog Record Highs While our temperatures felt like record lows this week, real estate prices have been hitting record highs along the Front Range.   Here is the average price for residential sales so far this year in each of our Front Range markets (includes both single-family and multi-family):   Fort Collins = $567,000 Loveland = $449,000 Windsor […]
Blog New Rate Prediction Windermere’s Chief Economist, Matthew Gardner has made his new mortgage interest rate prediction for 2021.   You can see his breakdown of interest rates and other economic factors by clicking on the image below and watching his newest video.   By the end of the year he predicts rates will rise to 3.63%.  By the […]
Blog 96 Weeks Mortgage rates have been below 4% for 96 weeks in a row.   Today, the average 30-year fixed mortgage rate sits at 3.17%.   This is 0.5% lower than January and exactly 1.0% lower than March 2020.   Rates recently ended a 31-week streak of being under 3%.   Over the last 5 years, rates […]
Blog 107 Straight According to research from the National Association of Realtors, home prices have appreciated for 107 straight months.   The median price in the U.S. is now $309,000.   The U.S. region with the highest median price is the West at $461,800. The lowest is in the South at $263,300.   All regions showed double-digit price […]
Blog Enormous Equity Hot off the press is the Core Logic Homeowner Equity Report.  This is their quarterly look at what is happening with homeowners’ equity across the country. Here are the staggering numbers coming out of their research: Collectively, U.S. homeowners with mortgages have realized a $1.5 Trillion gain in equity over the last 12 months. Only […]
Blog Homebuilder Headaches The National Association of Home Builders recently surveyed their members to ask them about the challenges they currently face and the challenges they expect to face.   Far and away, the biggest headache for homebuilders right now is the rising cost of building materials.   96% of the survey respondents cited this as a significant […]
Blog Days of Inventory In the residential real estate industry, inventory is typically measured in months.   For example, the definition of a “sellers’ market” is when there is less than 4 months of inventory on the market.  Meaning, at the current pace of sales, it would take less than four months to sell all the homes currently for […]
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