Vegas Baby!

 

The results are in from FHFA.gov’s latest ranking of the top performing markets in the U.S.

Each quarter they track 245 cities across the country and rank their real estate markets by home price appreciation.

 

What’s the highest performing city the the U.S.

Vegas!  Their prices have gone up 17.63% in the last year.

 

How about the worst?

Bloomington, Illinois sits in dead last where prices went down 3.58%

 

Here’s how Colorado cities are ranked:

• #10 Colo. Springs = 11.41%
• #16 Greeley = 10.68%
• #59 Fort Collins = 8.29%
• #64 Denver = 8.15%
• #97 Boulder = 6.85%

Posted on March 8, 2019 at 8:06 pm
John Taylor | Category: Economy | Tagged , , , , , , , , ,

How’s 2019?

A lot of our clients are asking how 2019 is starting off.

Here’s one thing we notice…

There are more homes to choose from, which is great news for buyers.

In January alone 4,821 homes came on the market in Metro Denver.

That is a 14% increase compared to one year ago.

At our annual Market Forecast, we predicted a more balanced market in 2019, so far it looks like we are trending that way.

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Below is the recap of our Denver Annual Market Forecast!

Posted on February 12, 2019 at 10:59 pm
John Taylor | Category: Housing Trends | Tagged , , , , , , ,

Waiting and Waiting

Anytime the market cools off we sometimes hear prospective buyers say “I think I’ll wait for the market to correct, then I’ll buy after prices come way down.”

The reality is this… History shows that this wouldn’t be a good strategy.

Our go-to source on price appreciation is the Federal Housing Finance Authority who produces a quarterly home price index.  They have been tracking Larimer County for 41 years.

Their numbers show:

  • Yearly prices have decreased only 6 times in history
  • The average amount of that decrease is only 1.7%

So, someone who is waiting for prices to drop:

  • Might be waiting a long time
  • Might be disappointed that prices didn’t drop by all that much
Posted on December 17, 2018 at 10:34 pm
John Taylor | Category: market news | Tagged , , , , , , , , , , ,

83 Miles Per Hour

Pretend you have been driving on the Interstate at 100 miles per hour.

Also, pretend you have been doing that for a long time.

Now pretend you slow down to 83 miles per hour.

How would that feel?

It would probably feel slow, right?

83 miles per hour is a 17% decrease from 100. It may feel slow, but it’s still pretty fast.

How does this relate to real estate?

Well, the market has been moving fast for a long time.

It’s been going 100 miles per hour for at least two years (some would argue even longer).

We’ve recently seen a 17% change in terms of number of transactions that are occurring.

There were 17% fewer sales in October 2018 versus October 2017 in Metro Denver.

It feels slow because we’ve been driving so fast for so long. But, our market is still moving.

For example, prices are still up. So, remember, that it’s all relative.

Posted on November 13, 2018 at 4:16 pm
John Taylor | Category: Housing Trends | Tagged , , , , , , , ,