Fun Facts

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Fun Facts Forecast Takeaways Here are some of the big takeaways from our annual Market Forecast with Economist Matthew Gardner: Interest rates will continue to trend down during the year and reach 6.08% by the end of 2024. Home prices will have another year of modest gains increasing 2.0% to 2.5% in Northern Colorado 53% of homeowners in Larimer […]
Fun Facts More Normal Range The length of time that it takes for a property to sell is settling into a more normal range. “Days on Market” is an insightful statistic that counts how long it takes for a property to go from live on the market to sold. Today measurement stands at 72 days in Larimer County and 74 […]
Fun Facts Out of the Gates How is the year starting? All of us in the real estate industry are especially curious to see how 2024 is starting off after the first slow real estate year in a long time. Rates have settled down and are trending down. Prices have shown resilience and continue to go up. But, how about transactions? […]
Fun Facts No Drop The numbers are in and it turns out that not even 8% rates could make prices drop in 2023. When mortgage rates jumped this last year, many people believed that home values would fall as a result. The fact that prices stayed flat in 2023 even though interest rates doubled between March 2022 and October […]
Fun Facts Price Plummet For anyone waiting for home prices to drop before making a buying decision, there is good news. The recent plummet in mortgage rates means that home prices, effectively, just took a big dip. Rates have gone down by 1% in the last 45 days which means that a prospective home buyer’s payment is 10% less […]
Fun Facts Inventory in Perspective A significant dynamic in the Front Range market is the relatively low inventory. This is the main reason why prices are stable despite higher rates. Here is some perspective on the inventory of homes for sale to help give some context. Today’s inventory is: Half of the long-term average going back 30 years ¼ of […]
Fun Facts Most Surprising News The most surprising piece of news for our friends and clients is that prices are essentially flat compared to last year.  People find that surprising given what interest rates have done over the last 18 months.  They wonder, how could prices not fall significantly after interest rates jumped considerably? The answer is the fundamental economic […]
Fun Facts Highly Active In addition to tracking the average price for sold properties, it is also interesting to track the average price for active properties. Asking prices are up across all markets when compared to the same time last year. Here are the average list prices for residential properties along the Front Range: Larimer County = $893,000 (8% […]
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Fun Facts A Rate-Induced Pop The recent drop in mortgage rates triggered a measurable uptick in sales activity. So far through the first 10 days of November, pending activity in Northern Colorado is up versus the same 10 days last year. This is despite interest rates being higher than they were last year. Mortgage rates just had their biggest one-week […]
Fun Facts MOI is Still LOW Despite decreased buyer activity driven by normal seasonal patterns plus higher interest rates, the key stat of Months of Inventory continues to stay relatively low. Months of Inventory (MOI) is the simple measurement of how long it would take to sell the current inventory of homes for sale at the current pace of sales. Along […]
Fun Facts Holding Steady Despite a significant increase in the supply of apartments, rental rates are holding steady. New research from Realtor.com shows that lease rates in the largest U.S. cities are down just 0.7% even though completions of apartment buildings are up 15% since 2022. Denver’s average apartment lease rate decreased only 1.0% year over year and now […]
Fun Facts Net Worth Surge Net worth surged for American families during the pandemic era, largely because of increased home values based on the Federal Reserve’s Survey of Consumer Finances. Net worth is a measure of household assets after accounting for liabilities. After accounting for inflation, median net worth jumped to $192,900, a 37% increase from 2019-22, the Fed found. […]
Fun Facts The Price is Right This is an interesting and important time of year for current home sellers. Thanksgiving is approximately 45 days away which is an important deadline for home buyers. Many buyers who are considering a move this time of year would like to close on a home before Thanksgiving. Current home sellers have a one to two […]
Fun Facts Increasing Reductions More and more sellers are having to reduce their listing price. Nationally, 37% of all home sellers have recently had a listing price reduction. This is according to a recent report from Altos Research. This is up from 30% in May and is now at the second-highest level since 2018. The highest it has been […]
Fun Facts Jump to Three The most notable change in the market, in terms of a specific statistic, is months of inventory. This statistic measures how long it would take to sell all of the current inventory at the current pace of sales. Months of inventory has jumped to three along the Front Range. One year ago, it was two […]
Fun Facts Double, Half, Fifth Today’s inventory of residential properties along the Front Range is… Double what it was in 2021 (the all-time low) Half of the long-term average (going back to 1985) One-fifth of what it was in 2006 (the all-time high)
Fun Facts $44 Trillion Have you ever wondered how much all of the residential real estate in the U.S. is worth? It’s $44.5 trillion. That’s 44 with 12 zeroes after it. This data comes from the Federal Reserve’s Quarterly “Z.1” report. The total valuation increased by $2.4 Trillion over the last quarter and is essentially flat compared to one […]
Fun Facts Ups and Downs Here is a look at how the market performed in August 2023 versus August 2022   Prices: Larimer County Up 4% Weld County Up 8% Metro Denver Up 6%   Transactions: Larimer County Down 18% Weld County Down 31% Metro Denver Down 15%   Inventory: Larimer County Up 18% Weld County No Change Metro Denver […]
Fun Facts Where It’s At New Homes are where it’s at. By ‘it,’ we mean inventory. Given low supply of existing homes, home buyers have figured out that new homes offer an effective place to find homes for sale. Here are the stats… Inventory of existing homes is down 7.7% year over year. And, last year’s inventory was historically low. […]
Fun Facts Protesting! The number of protests filed with Colorado’s 64 county assessors increased 300% in 2023 compared to the average number of protests from the previous three assessment cycles. Property owners filed at least 308,298 protests with Colorado’s 64 county assessors this year, which compares to an average of 103,000 annual protests in the last three assessment […]
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