Buyers & Sellers

Buyers & Sellers Seller Beware As interest rates have gone up, buyers’ tolerance has gone down. Generally speaking, the mindset of buyers now is dramatically different from two to three years ago. Buyers used to be more open-minded and flexible and now that has changed. Higher rates have caused them to be far less tolerant of: Aggressive pricing Wear and […]
Buyers & Sellers Inventory in Perspective A significant dynamic in the Front Range market is the relatively low inventory. This is the main reason why prices are stable despite higher rates. Here is some perspective on the inventory of homes for sale to help give some context. Recent inventory is: Half of the long-term average going back 30 years ¼ of […]
Buyers & Sellers No Drop The numbers are in and it turns out that not even 8% rates could make prices drop in 2023. When mortgage rates jumped this last year, many people believed that home values would fall as a result. The fact that prices stayed flat in 2023 even though interest rates doubled between March 2022 and October […]
Buyers & Sellers More Normal Range The length of time that it takes for a property to sell is settling into a more normal range. “Days on Market” is an insightful statistic that counts how long it takes for a property to go from live on the market to sold. Today measurement stands at 72 days in Larimer County and 74 […]
Buyers & Sellers Forecast Takeaways Here are some of the big takeaways from our annual Market Forecast with Economist Matthew Gardner: Interest rates will continue to trend down during the year and reach 6.08% by the end of 2024. Home prices will have another year of modest gains increasing 2.0% to 2.5% in Northern Colorado 53% of homeowners in Larimer […]
Buyers & Sellers A Rate-Induced Pop The recent drop in mortgage rates triggered a measurable uptick in sales activity. So far through the first 10 days of November, pending activity in Northern Colorado is up versus the same 10 days last year. This is despite interest rates being higher than they were last year. Mortgage rates just had their biggest one-week […]
Buyers & Sellers MOI is Still LOW Despite decreased buyer activity driven by normal seasonal patterns plus higher interest rates, the key stat of Months of Inventory continues to stay relatively low. Months of Inventory (MOI) is the simple measurement of how long it would take to sell the current inventory of homes for sale at the current pace of sales. Along […]
Buyers & Sellers The Price is Right This is an interesting and important time of year for current home sellers. Thanksgiving is approximately 45 days away which is an important deadline for home buyers. Many buyers who are considering a move this time of year would like to close on a home before Thanksgiving. Current home sellers have a one to two […]
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Buyers & Sellers Increasing Reductions More and more sellers are having to reduce their listing price. Nationally, 37% of all home sellers have recently had a listing price reduction. This is according to a recent report from Altos Research. This is up from 30% in May and is now at the second-highest level since 2018. The highest it has been […]
Buyers & Sellers Jump to Three The most notable change in the market, in terms of a specific statistic, is months of inventory. This statistic measures how long it would take to sell all of the current inventory at the current pace of sales. Months of inventory has jumped to three along the Front Range. One year ago, it was two […]
Blog $44 Trillion Have you ever wondered how much all of the residential real estate in the U.S. is worth? It’s $44.5 trillion. That’s 44 with 12 zeroes after it. This data comes from the Federal Reserve’s Quarterly “Z.1” report. The total valuation increased by $2.4 Trillion over the last quarter and is essentially flat compared to one […]
Buyers & Sellers Ups and Downs Here is a look at how the market performed in August versus August 2022   Prices: Larimer County Up 4% Weld County Up 8% Metro Denver Up 6%   Transactions: Larimer County Down 18% Weld County Down 31% Metro Denver Down 15%   Inventory: Larimer County Up 18% Weld County No Change Metro Denver Down […]
Buyers & Sellers Larimer Resilience To see the resilience of the Front Range market, look no further than Larimer County. The average price for closed single-family homes in the month of July was $724,000. This is only the third time in history Larimer County has exceeded $700,000 for average price in a month. July’s average price is a whopping 12% […]
Buyers & Sellers Higher Better The higher-end market in Northern Colorado, in terms of number of closings, is faring better than the overall market. When we look at the number of homes selling today and the price point of those homes, properties priced above $1,000,000 are performing better than the market as a whole. The number of closings occurring now […]
Buyers & Sellers Who Would Have Guessed? Pretend it is 2013. The real estate market is clearly recovering from the Great Recession. The Broncos are having a great year and will eventually make it to the Super Bowl. Now, imagine someone makes a prediction that 10 years in the future mortgage interest rates would double over the course of 12 months. If […]
Buyers & Sellers A New Change There is a new type of change to be prepared for. One interesting way to track the market is to measure the year-over-year difference in inventory. Quite simply, this looks at how many homes are available today versus the same time one year ago. For the past several months in a row, the difference as […]
Buyers & Sellers Picking up Steam In a market that seems abnormal to a lot of people we notice a very normal trend right now.  As we head into Spring, activity is picking up. This happens pretty much every Spring and it is happening again. When we measure the number of properties under contract, which are set to close in the […]
Buyers & Sellers No Middle Class “The middle class is going away” is an often-used adage when talking about society. It is also a good way to describe today’s real estate market.  When it comes to properties for sale, the middle class has gone away.There is a class of listings which are priced to the market, in great condition, with world-class marketing.Then, […]
Buyers & Sellers Small is the New Big The average size of new homes is dropping.  This is after a two-year period that saw size increase significantly.  This is according to the National Association of Home Builders’ Eye on Housing.The COVID-19 pandemic changed how much time people spent in their homes and also how they used their homes. Homeowners discovered a need for […]
Buyers & Sellers March Madness When things get crazy on Wall Street, it’s often good for real estate. Uncertainty in the stock market attracts investors to the stability offered by Treasury Bonds. Higher demand for bonds means lower interest rates which is obviously good for real estate buyers. “Turbulence in the financial markets is putting significant downward pressure on rates” […]