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Blog Equity Snapshot CoreLogic just released their quarterly Home Equity Insights Report. Their analysis shows U.S. homeowners with mortgages (roughly 63% of all properties) have seen their equity increase by a total of over $3.2 trillion since the third quarter of 2020, an increase of 31.1% year over year. In the third quarter of 2021, the total number […]
For Sellers Why List Now Why does it make sense to list a home now?  Shouldn’t I wait until the Spring? These are legitimate questions we hear occasionally from our clients. It turns out there are several good reasons to list a home in December or January instead of waiting for April or May. The first reason is low competition.  […]
Blog Zillow’s Shut Down On Wednesday Zillow announced the shut down of its iBuying program because of mounting financial losses and increasing complexity in the real estate market. The goal of this program was to buy properties directly from Sellers and then re-sell them for a profit. Before looking at the interesting facts and numbers associated with this news, […]
Blog In Perspective Let’s put today’s home prices in perspective. Appreciation has been significant over the last 18 months. Some people are wondering if it can last and if there might be a housing bubble. There are two ways to look at prices. One way is in absolute terms. This is simply looking at the dollar amount a […]
Blog No Inventory? One misconception about today’s market is that there is ‘no inventory.’ Actually, there are numerous new listings that hit the market each month. It just so happens that they tend to sell quickly. The numbers show the number of new listings that came on the market in September closely equate to the number of sales […]
Blog Slight Increase A review of the September market stats shows a slight increase in inventory along the Front Range. The way we currently measure inventory is in days. Meaning, at the current pace of sales, how many days would it take to sell all of the inventory currently for sale. The results, based on September’s activity, shows […]
Blog With a “T” One of the reasons we are so confident about the long-term health of the market is because of the equity that exists in peoples’ homes today. Because there is so much equity, there are very few homeowners who are ‘underwater’ with a loan that is more than the actual value of the property. According to […]
Blog Lower Lumber Lumber prices are becoming more normal again. After soaring this Spring to record levels, they have lowered back to near pre-pandemic levels. The current price for 1000 board feet of lumber is $577.  This is 62% below the price this past May when it reached an all-time high of $1,515. In the years leading up […]
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For Buyers & Sellers Staggering Stat By definition, a real estate market is balanced when there is 4 to 6 months of inventory currently for sale. Anything less than 4 to 6 months means a Sellers’ market, anything more means a Buyers’ market. For example, if there are 1,000 closings per month in a market, the market would be balanced if […]
Blog Tracking Change The market is changing. The change is slight, not drastic. Both potential sellers and potential buyers need to know that the pace of the market has slowed since the Spring. Here is one way we track this change… A review of the August numbers shows the pace of sales in each of our Front Range […]
Blog Population Math The brand new Census data has just been released and it is fascinating! Colorado’s population now sits just below 6 million people at 5.773 million.  Just 20 years ago it was 4.301 million. Northern Colorado is booming and now has 688,047 in Larimer and Weld Counties.  It grew by 135,592 people in just ten years.  […]
Blog 100 / 90 / 60 As you’ve probably heard, prices have gone up quite a bit along the Front Range. Low interest rates, strong demand, lower supply, and a healthy local economy are all contributing to increased prices. It may interest you to see exactly how much prices have increased since one year ago in the markets where we have […]
Blog A List Not Made Us Coloradoans are used to making many top-10 lists. Whether it be best place to live, best place to retire, best place to raise a family, or best place to own real estate, you can usually find a Colorado town or two on these types of lists. But, here’s one we didn’t make… The 10 […]
Blog Listing Averages While a lot of attention has been paid to increasing sales prices along the Front Range, it is also interesting to look at the average price of properties currently listed for sale. Did you know, for instance, that the average list price of all the properties currently for sale in Metro Denver is $887,000. Meanwhile, […]
For Buyers 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 Foregone Conclusion For anyone worried that mortgage forbearance would eventually cause a flood of distressed properties to hit the market, there is good news this week. The number of mortgages in forbearance continues to drop and hit its lowest point since April of 2020. Loans in forbearance dropped 12% compared to one month ago. It appears the growing economy […]
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 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 […]
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 […]
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