This past Wednesday and Thursday evenings we had the pleasure of hosting our annual Market Forecast events in Denver and Fort Collins.
Thank you to the 700 people who attended both events. We appreciate your support!
In case you missed the events, here are some highlights including our forecast for price appreciation in 2019:
• In 2018 Prices went up:
o 8% in Fort Collins
o 8% in Loveland
o 8.5% in Greeley
o 8% in Metro Denver
• Inventory is (finally) showing signs of increasing:
o Up 25% in Northern Colorado
o Up 45% in Metro Denver
• There are distinct differences in months of inventory across different price ranges = opportunity for the move up buyer.
• There are several reasons why we don’t see a housing bubble forming:
o New home starts along the Front Range are roughly 60% of pre-bubble highs 14 years ago.
o Americans have more equity in their homes than ever, $6 Trillion!
o The average FICO score of home buyers is significantly higher than the long-term average.
o The home ownership rate is back to the long-term average.
• Our 2019 Price Appreciation Forecast:
o 6% in Fort Collins
o 6% in Loveland
o 7% in Greeley
o 6% in Metro Denver
If you would like a copy of the presentation, go ahead and reach out to me. I would be happy to put it in your hands!
Posted on January 21, 2019 at 7:16 pm
Category: Blog, Fort Collins Real Estate, Fort Collins Realtor, Northern Colorado Real Estate, Windsor Real Estate
Tagged Colorado, First Time Buyer, Housing Report, Interest Rates, Real estate, realtor, relocation, Stats, Trends
One of the most common questions we hear from clients is “Where do you think interest rates are going?”
Virtually all of the experts we follow put rates above 5% going into next year and some see rates approaching 5.5% by the middle of 2019. What’s certain is that there are economic forces at work that are pushing rates higher.
So, how about a little history lesson? How do today’s 30- year mortgage rates compare to this same date in history going all the way back to 1990?
• Today = 4.85%
• 2017 = 3.94%
• 2015 = 3.82%
• 2010 = 4.27%
• 2005 = 5.98%
• 2000 = 7.84%
• 1995 = 7.75%
• 1990 = 10.22%
While today’s rates feel high only because they are higher than 2017, they are quite a bit lower than at many times in history.
Posted on October 21, 2018 at 5:59 pm
Category: Fort Collins Realtor, Fun Facts
Tagged Bubble, First Time Buyer, fort collins, home, Interest Rates, northern Colorado, rates, Real estate, realtor, relocation, Stats, Trends