Those of us in the real estate industry agree that the years 2020 to 2022 were anomalies. During that time there were unique factors which drove abnormally high real estate activity. The number of transactions that occurred in those three years were at levels never seen before.It has become customary to compare the market in 2023 to the years 2016 to 2019 when looking at the number of closed transactions.Here’s what is interesting, while the number of closings so far this year is much less than last year, it is very close to what we saw in the more normal market of 2016 to 2019.Last month, 295 properties closed in Larimer County and 296 closed in Weld.The average January during 2016 to 2019 was 334 in Larimer and 303 in Weld.So, this year is only 12% lower than the average in Larimer County and 2% lower in Weld.
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Fun Facts • February 24, 2023
A Little Perspective…
by Windermere Windsor
Fun Facts Equity Cushion You may remember the term “Home ATM” from the mid 2000’s. This term stemmed from the abundance of homeowners who pulled significant amounts of equity from their homes in the form of Home Equity Loans and Lines of Credit. Home values dropping in 2008, 2009 and 2010 caused many homeowners to be ‘underwater’ meaning that, […]
Fun Facts The “R” Word Our clients wonder what a recession would mean for the real estate market. Many assume it would translate into a downturn in prices. Some even worry that it would cause values to come crashing down. We looked back in history, at past recessions, to gain an understanding of what recessions mean for the Front Range market. […]