MARKET STABILIZES IN FEBRUARY – Despite Boost in Inventory

Statistics from February are in from REColorado and it looks like things were relatively stable across most categories despite a decent bump in the amount of inventory.  Even with a 9% increase in inventory, pricing was relatively stable, showing that buyers - particularly in the lower price points are still eager to purchase. Here's a …

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 …

I was wrong

Throughout the winter, my expectation was that as the market progressed into the Spring selling season, we would start to see a good increase in home inventory, getting us back to a more balanced market and taking pressure off pricing.  As we now sit on the cusp of the season, it appears I was wrong. …

Market Bucks Seasonal Slowdown

A dip in interest rates helped to fuel a strong October, bucking the typical seasonal slowdown.  The number of homes placed under contract in October was up 2.2% from September, and the average sold price increased slightly, going from $331,382 in September to $332,184 in October. The markets response to the interest rate increases in …

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 …

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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