There is an 82% to 86% chance that you made money on ownership of metro Denver residential real estate no matter when you bought and sold over the last 26 years.
The Rear View Mirror and the Windshield
Do you have a road trip that you take repeatedly? Heading over to Sturgis on the Harley? Trundling off to Lake Powell? If so, you are familiar with the waypoints. That place you stop for a milkshake. A noteworthy view from a mountain pass. The historical marker where someone famous did something noteworthy at some time in the distant past. The …
Understanding Market Shifts
We’re seeing lots of news recently about a shift in the metro Denver residential real estate market. It’s true! The market IS shifting. However, the portrayal of this shift as reported in the popular media and even by many industry sources contains only a drop of truth in an ocean of misinformation. LET’S UNRAVEL TRUTH FROM FICTION. Most of the …
Smart Buying and Selling Strategies for the 2nd Half of 2018
There is a seasonality to residential real estate sales and there are both myths and realities in connection with this phenomenon. One myth is that most resale home transactions occur during the first half of the year. That is dispelled by the chart shown here. On average, the distribution of closings per quarter is 19%, 29%, 29% and 23% over the last …
Average House Payments Near Historic Norm
There are many ways to look at housing affordability. A prior post evaluated affordability by comparing payment required to income available over a 43-year time frame. An alternative methodology is to look at monthly house payments after adjusting them for inflation. At Colorado Home Realty (CHR), we conducted an affordability analysis recently using this complementary approach. Since this analysis takes …
Housing Affordability Better Today Than During Most of the Last 43 Years
Imagine it’s 1979. The average single-family home in metro Denver carries a price tag of $66,051. Don’t you wish we could go back to those days when housing was so affordable? A recent affordability study by Colorado Home Realty (CHR) came to a shocking conclusion: The average single-family home in 2016, selling at $441,172, is significantly more affordable than its 1979 counterpart! …
Market Predictable … and Affordable?
Market Predictable … and Affordable? “Second verse … same as the first.” That iconic line from a 1910 British theatrical song, famously reprised by Herman’s Hermits in the 1960s, summarizes the metro Denver residential real estate market. It is keeping the same pattern year after year. The 12-month moving average for single family home prices is 8.5% now versus …
Is Denver Affordable?
Is Denver Affordable? Is the Denver Real Estate Market a bubble? Should we have economic concerns? Why do we care? Links mentioned in the video: Housing Affordability: https://bit.ly/2uZA4vC Average House Payments Near Historic Norm: https://bit.ly/2h2ZgvV Subscribe To Our Blog
Housing Affordability Surprisingly Strong
Housing Affordability Surprisingly Strong Home prices in metro Denver are off the charts … literally. They have never been higher. The average single family resale home in metro Denver was $441,172 in 2016. Go back 40 years to 1976 and it was $39,740! A third of that increase has come in just the last five years. As we’ve noted previously in …
Housing Affordability Historically Affordable Despite Price Increases
Housing Historically Affordable Metro Denver residential real estate market stats have been finalized for May and are consistent with the pattern we’ve experienced since 2012. Housing affordability is historically affordable despite price increases… You can see the actual dollars and percentages down to two decimal places in the table below, but the big picture is as follows for this May …
Fundamentals Keep Market Steady in Apri
We hate to use a clichéd metaphor but the metro Denver residential real estate market is pretty much like a broken record. For three years now, we have been seeing the same outcome: Prices going up at double digit rates – more sales occurring – inventory staying historically low. In April, it looked like this: Home prices were up by …
Steadily Rising Home Values Continue in March
Metro Denver residential real estate trends in March 2017 stayed true to form … everything was UP. Do you own the average single family home? At $466,414, it’s was up over 8% from a year ago. Do you own the average multi-family property? It was up by more than 9.5% over March of last year at $313,419. Market activity continues to …