Every home in America just got a flood-risk score. Your home – and any home you may purchase – has an easy-to-access “Flood Factor” score that “is an indicator of its comprehensive flood risk” and shows a property’s “likelihood of flooding and the potential depth of that flood.” FEMA flood maps can be unreliable predictors of future flooding and […]
Metro Denver Real Estate Market Update, August 27, 2020 Read More »
There still aren’t enough homes for sale in Metro Denver to satisfy buyer demand. Statistics for July indicate scarcity of choice was one reason detached homes sold at a record average price last month – $601,863. This is nearly ten percent higher than a year ago (9.92% to be precise) and up 7.68% compared to June.
Metro Denver Real Estate Market Update, August 6, 2020 Read More »
Last week, we mentioned that some analysts believe home prices will decrease in the metro area by next May. Even if prices do decrease, it may make sense to buy a home now rather than wait. The biggest reason for this is interest rates. Interest rates for 30-year mortgages hit record lows last week, going below
Metro Denver Real Estate Market Update, July 23, 2020 Read More »
California’s CoreLogic, a data and analytics company, just released their Home Price Insights report, designed to predict what will happen with housing between now and May 2021. The report predicts home prices will decrease 6.6% from May 2020 to May 2021, the first year home prices have declined nationally in more than nine years. The report suggests
Metro Denver Real Estate Market Update, July 16, 2020 Read More »
June numbers are out. As the economy opened, a combination of low interest rates, pent up demand and low inventory led to more homes being under contract than came on the market. 7,676 homes went under contract last month. That’s a record high, up 27.38% compared to June 2019 and 16.25% higher than May 2020.
Metro Denver Real Estate Market Update, July 9, 2020 Read More »
Market Update, June 25, 2020 For years, home prices have risen steadily in the Denver metro area, but we may be seeing some stabilization in pricing now. The average price for a home that sold in the area during May was $494,550, down from $502,168 in April and down from $511,702 in March. Normally, May
Real Estate Market Report for Metro Denver – 6/25/2020 Read More »
Market Update, June 11, 2020 Where were you in 2010? In the same home? In a different state or town? We thought it would be interesting to look at some key real estate statistics from May 2020 and compare them to what was happening during May 2010. Active Listings – May 2010 to May 2020 Average Closed Price
Metro Denver Real Estate Market Activity, June 11, 2020 Read More »
May numbers are in and it was a wild month in real estate. Buyers had a lot to choose from by the end of the month. In fact, new listings were up 56.44 percent from April. Many of those were homes that had been withdrawn when showings stopped. At the end of May, 7,170 homes
Metro Denver Real Estate Market Report – June, 2020 Read More »
Market Update, May 28, 2020 Mortgages are on our minds again this week. Rates set a new record low for the third time in three months. The average rate for a 30-year fixed mortgage fell to 3.15% this week. In fact, Freddie Mac data over the past five decades shows this is the lowest rate recorded.
Metro Denver Real Estate Market Update – May 28, 2020 Read More »
Nobody knows for sure what will happen, but once the economy opens, we believe we’re likely to see a surge in the real estate market that will last two to three weeks. Pent up demand for homes will drive buyers to look at homes and make offers. These signs indicate we’ll see a short surge in
Metro Denver Real Estate Market Update – April 30, 2020 Read More »