Fun Facts

Fun Facts Equity Rich Homeowners in Northern Colorado have a bunch of equity in their homes.This fact was reported by our Chief Economist Matthew Gardner at our annual Real Estate Market Forecast event.The term ‘equity rich’ is defined as someone who has at least 50% equity in their home.For example, if someone owns a home worth $500,000 and their […]
Fun Facts Luxury Stats The numbers are in.  2022 was another strong year for luxury sales of properties over $1,000,000.Along the whole Front Range in 2022, the number of luxury properties that sold was up 6.28% over 2021.The sold price per square foot was up 5.98% compared last year.Most interestingly, the number of luxury properties that closed this past […]
Fun Facts No Bear Altos Research is one of the most trusted sources of real estate market information in the United States.  Each week they track every single home for sale across the Country.  They analyze the pricing, supply, demand, and status changes for all listings.  This amount of data allows them to expertly predict changes in the market. […]
Fun Facts Versus 2019 Because 2021 and 2020 were such unique years in real estate because of the considerably low interest rates, many people in our industry believe it makes sense to compare 2022 to 2019 when looking at the key statistics. Here’s how 2022 looked along the Front Range compared to 2019:                                                Prices                   Number of […]
Fun Facts RSVP Time There are four key questions that our clients have right now:1. What will values do this year and is there any chance of a housing bubble?2. When will mortgage rates drop below 6%?3. Will inflation subside this year?4. Is now a good time to buy or sell? All of these questions will be answered by our […]
Fun Facts Incentivized More than 75% of all new home builders are using interest rate buydowns as a way to attract buyers to their communities.This is according to new research by John Burns Real Estate Consulting.Builders are fronting several thousand dollars on behalf of their buyers so these buyers can have a lower rate for the first few […]
Fun Facts Way Under The Nation’s real estate market is significantly under-supplied.According to the most recent research from Freddie Mac, the United States has a housing supply deficit of 3.8 million units.The available inventory today is lower than it has ever been in the last 40 years and is 3.5x lower than the peak of 2008.The reason why available […]
Fun Facts Mis-Led The most misleading stat about the housing market is increase in inventory. The number of properties for sale is up significantly compared to last year.  In most locations along the Front Range, inventory has doubled.This is obviously great news for buyers because they now have more choice.This is obviously meaningful for sellers because they now have […]
Don't Miss Our Next Post
Subscribe Now
Fun Facts Bargaining Power Buyers (finally) have more bargaining power.  For many, many months sellers had the distinct upper-hand and commanded above-list price offers.  Bidding wars were the norm.  Buyers had virtually no negotiating power.The numbers show that the dynamic has absolutely changed.The ratio of the final sales price to the list price is now at 98.1%.From April 2020 […]
Fun Facts Inflation and Housing Yesterday’s Consumer Price Index report for October showed a lower-than-expected increase in inflation.  Many believe, based on the numbers, that inflation rates may have peaked.  Investors cheered and the stock market showed it’s biggest increase since bouncing back from the pandemic-caused bear market in 2020.So, what does yesterday’s news mean for housing in the short […]
Fun Facts A Numbers Game Here’s a fun fact. Generally speaking, a Seller should expect to have between 8 and 13 showings before receiving an offer. The exact number of course depends on price point and location. So, how quickly a property sells depends upon how quickly those showings are generated. The old adage of ‘it’s just a numbers game’ […]
Fun Facts Luxury is Stronger The market above $1,000,000 is stronger than the market overall.This is true in both Northern Colorado and Metro Denver.The luxury market is not slowing to the same degree as the overall market.In Northern Colorado: Closed transactions are down 41% in the overall market and 26% in the luxury market over $1,000,000 Pending transactions are down […]
Fun Facts Big Jump We are seeing a big jump in properties for sale as measured by months of inventory.​​​​​​​ As a reminder, a market is considered balanced when there is between 4 and 6 months of inventory on the market.  Meaning, at the current pace of sales, it would take 4 to 6 months to sell all of […]
Blog Halfway Check This is a market which is changing quickly.  We are studying the numbers every day so we can be clear about where the market is heading. Here is a check on the market halfway through October. Compared to last October… Available inventory is up 73% in Northern Colorado and up 112% in Metro Denver.  This […]
Fun Facts Toward Balance Our market is moving toward a balanced market, but it is still unbalanced. By definition, a balanced market has between 4 and 6 months of inventory for sale. Today there is essentially two months.  One year ago, there was only 3 weeks of inventory. It has actually been 16 years since the market has been […]
Fun Facts The Big News The big news this week is obviously the rise in interest rates. Average 30-year fixed mortgage rates are now at 6.7% which is the highest they have been since July 2007. So, how is this affecting the market?  Here is what we notice… There are fewer buyers in the market.  Sales activity, measured by closed […]
Blog Most Multi There are more multi-family residential properties under construction than at any time since 1974.   890,000 properties with 2+ units are currently being built across the United States.  This includes both for-sale product, and for-rent product.   Additional supply is clearly beneficial for both buyers and renters and will hopefully relieve some of the housing […]
Fun Facts Price Peek Here is a peek at average residential prices along the Front Range through the first half of September and how they have changed versus one year ago: Larimer County = $663,000 up 11.6% Weld County = $511,000 up 4.5% Boulder County = $1,165,000 up 17% Metro Denver = $668,000 up 9%
Fun Facts Best Places U.S. News & World Report just released their ‘Best Places to Live’ rankings and two Colorado cities made the top five list. They rank the 150 most populated metropolitan areas on criteria such as employment, quality of life, and strength of the housing market. Here are the top 5: 1.  Huntsville, AL 2.  Colorado Springs, […]
Fun Facts New Rankings The latest Home Price Index report has just been released by the Federal Housing Finance Authority. They track home price appreciation for the largest metropolitan areas in the U.S. plus state by state appreciation. Here is the ranking of the top three states for price growth over the last twelve months: 1.  Florida = 29% […]