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Economy Faster Here’s something true about today’s market.  Properties are selling fast. Compared to one year ago, the number of days it takes for a property to sell is significantly lower. The industry term is “Days on Market” or DOM. DOM is way down. Here is the comparison of May 2020 versus May 2019: Metro Denver down 22% […]
Fun Facts Pent Up Demand We notice a very interesting dynamic in the market right now. There was clearly a pent-up real estate demand created during the recent time when in-person showings were not allowed.  The numbers back it up. First, a little background.  During a portion of “Shelter in Place,” all in-person viewing of properties ceased.  Instead, buyers spent […]
Fun Facts What the Numbers Say April represents the first time we can look at the impact of COVID-19 on a full month of real estate activity. To no one’s surprise, activity in April in terms of closings and new contracts did slow significantly. Much of this slowing was caused by in person showings not being allowed for most of the […]
Fun Facts Another Meltdown? This week our Chief Economist took a deep dive into the numbers to examine the current health crisis versus the housing crisis of 2008. The reason why?  People wonder if we are going to have another housing meltdown nationally and going to see foreclosures and short sales dramatically increase. It turns out that the numbers […]
Economics 101 Why No Crash This week we hosted our clients and friends for a special online event with our Chief Economist Matthew Gardner. Matthew talked about a variety of topics that are on people’s mind right now including home values. Matthew sees no evidence that home values will crash and actually sees signs that they may rise this year […]
Colorado Housing Special Event On Wednesday April 22nd you are invited to a special online event with Windermere’s Chief Economist Matthew Gardner. He will be giving his insights into the U.S. economy and what that means for real estate along the Front Range of Colorado. You will hear the answers to the biggest questions we are hearing from clients […]
Fun Facts Inventory Drop An impact we expected from COVID-19 to the housing market is reduced inventory.  That prediction is certainly proving to be true. In March, the number of withdrawn properties from the MLS went up 68% in Larimer County and 38% in Weld when compared to March 2019. Reduced inventory is one reason why we don’t expect […]
Economy Health Crisis not Housing Crisis Here is the latest video from our Chief Economist Matthew Gardner.  It’s full of great nuggets about what is happening in the economy and the real estate market today.  Just click the image below to play the video.
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Fun Facts Leading Indicator We are watching close to see where the real estate market is headed. Anecdotally we can tell you that the vast majority of transactions that are under contract are still closing. We have seen very few transactions cancel because of employment issues or the wild swings of the stock market. An interesting leading indicator was […]
Fun Facts Economist’s Perspective Our Chief Economist made a video for all of our clients where he shares his perspective on COVID-19’s impact on housing.  You can watch it by clicking the image below:
Fun Facts Headwind vs. Tailwind So far the tailwind of historically-low mortgage rates are prevailing over Wall Street and COVID-19 concerns. Buyers are still active.  Properties are still closing.  Moving trucks are still showing up at people’s homes. Open house traffic has declined, but we notice plenty of buyers looking for property.  (one of our open houses last weekend had […]
Fun Facts A History Lesson With the stock market on a wild ride and the Dow Jones dropping nearly 1,000 points yesterday, it makes some people wonder if the local real estate market might also crash or at least “correct.” A little history lesson is in order. Over the last 40 years, the real estate market along the Front Range has […]
Fun Facts Corona Rates Interest rates on a 30-year mortgage right now are just about the lowest they have ever been in history. The rate today is 3.45% The lowest-ever in November, 2012 was 3.31% A year ago they were 4.35% So, what gives?  Why are rates so low?  It turns out that the coronavirus is pushing rates down […]
Fun Facts Lovely Stats In honor of Valentine’s Day, here are some Northern Colorado stats we think you will love: Prices are up 3.5% compared to last year Inventory is up 10% which means there is more selection for buyers We just had the most active January in terms of closings in over 10 years Well over 13,000 residential […]
Fun Facts Supply and Demand Northern Colorado gave us a real-life economics lesson in January 2020. Compared to one year ago… ·         Inventory was down 10% (Supply) ·         Homes under contract went up 31% (Demand) ·         Prices were up 5% (Result) If you would like to see a video recap of our annual Market Forecast you can watch that HERE.
For Buyers Affordability Housing affordability is a hot topic especially after the strong price appreciation that has occurred in our market over the last 7 years. Here’s some interesting research on affordability… Each quarter the National Association of Home Builders measures affordability in hundreds of markets across the Country. Their method is to count the number of homes in […]
Fun Facts Millennial Buyers Millennials often get a bad rap.  One of the myths about Millennials is that they don’t own homes and will be renters forever. Not true!  Especially on the Front Range of Colorado. Based on research by our very own Chief Economist, Matthew Gardner, Millennials make up a significant percentage of all home buyers in Metro […]
Fun Facts Zero Correlation It’s an election year which means that our clients are asking us if election years impact real estate. According to research done by Real Trends there is zero correlation between election years and the number of transactions in the market compared to non-election years. They found that sales were down in 1980, 1988, and 2008 compared to […]
Fun Facts Big Numbers It turns out a lot of real estate changes hands over the course of a year in our market. In 2019 Metro Denver had… Over 56,000 residential sales Over $28 Billion of residential sales volume Overall, 2019 saw a slight increase in the number of transactions compared to 2018 and approximately a 5% increase in […]
Economics 101 Save Your Spot A quick, simple Fun Fact for you this week… It’s time to sign up and register for our annual Market Forecast event. We will be live in Denver on January 15th at the Wellshire Events Center. And In Fort Collins on January 16th at the Marriott. Both events start at 5:30.  Choose which location works best for you. Matthew […]
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