Market Dips in January – What to Make of It?

The January 2019 reports from REColorado (the local association)  and the Colorado Association of Realtors (statewide association) indicate that sales activity in January was weak across the board.  The report form RE Colorado, indicates a -5.8% drop in the Y-O-Y median sale price in Denver County for the month of January.  This report combines attached …

Lakewood 1% Growth Cap – Horrible Idea

Looks like the risk of a 1% cap on the growth of housing units in Lakewood is back on the table. To recap, a group of local residents collected sufficient signatures to require the council to impose a cap of 1%, or place the measure on the November ballot.  A challenge was filed (on technicality …

Sleepy Cow Town no more

As we came out of the real estate downturn, the quick recovery and subsequent acceleration in the residential market and in commercial development activity  left many observers sitting with their mouths hanging open.    Residential home prices are now above their peak, and while the market has slowed in the winter months, it still appears …

Don’t buy the land if it “pencils” ONLY….

This is an interesting  article from MetroStudy about the land development market nationwide. Due to accelerating housing prices and continued demand for finished homes, land developers have been scrambling to find developable land.  I have noticed this in Denver where we see infill development on what would otherwise be thought of a inferior locations (on …

“Shortage of finished lots, labor and raw materials”

A good article in Inside Real Estate News about recent report by the Homebuilder's Association on Building Permits and the impact of flooding on demand for housing. Some key comments from the article: “There is still a lot of pent-up demand in the metro area,” August added. He said more permits would have been pulled …

Market Health Improves

While a rabid market can be a fun ride, it is not a healthy or sustainable state. Denver has enjoyed a rabid market through the first half of the year.  Now, the market is stabilizing and moving back in to a healthy category. According to recent data from MLS, average home prices in August tapered …

New Housing Data – Continued Appreciation

The latest monthly Case Shiller Home price index is out and according to the report, the Denver Market saw a 9.4% year-over-year gain, with prices eclipsing last month's record level's.  This report continues the trend of 9% + year-over-year appreciation, which began back in January - indicating sustained appreciation. Denver's growth lagged the results from …

Prices Level Off in July -Market Remains Active

The combination of new inventory and increasing interest rates have lead to a leveling-off of the rapid price escalation we have seen in recent months according to data from Metrolist: Activity remains strong though as sold numbers increased over the previous month and average days-on-market decreased over the previous month. The amount of reduction in …

All Time High- Denver Case Shiller Index

The latest Case Shiller index of home prices is out and Denver has hit an all-time high of 140.98 - surpassing the previous peak of 140.28 in August 2006.  The index showed a 9.7% increase year-over-year - consistent with several previous month's annual gains. The Case Shiller Index tracks re-sales of properties over time, providing …

Freddie Mac: Mortgage Rates Increase Will Have Limited Impact on Home Affordability

Here is a good recap by the Chief Economist at Freddie Mac about the impact of interest rates on home affordability.  It is from back in June so his stat on increase is dated - rates spiked in July since the lows in the Spring, but have since pulled back a bit - track rates …

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