Real Estate on the Front Range

The market continues to be defined by low inventory, (some of the lowest Months Supply of Inventory figures that I've seen) and high demand.  However, mortgage rates have gone up recently and are hovering in the mid 3's.  How will this impact the real estate market?  It certainly will impact some buyers by decreasing their purchase power, but many will still be able to move forward.  Take a look at this latest market update to see data specific to Boulder, Larimer and Weld Counties.

Welcome to 2022! As we are getting into the new year, what can we expect with regard to the housing market? How does our local economy impact the housing market and help predict what will likely happen? Every year I review data from our local market and also review the annual Colorado Business Economic Outlook produced by Leed’s School of Business to help you get an idea of what we can expect to happen in the real estate market of Northern Colorado.

What is Months Supply of Inventory?  This is a helpful measure in assessing the health of the real estate market.  It is useful in determining if we are in a buyer's, seller's or balanced (neutral) market.  By definition, it is how long it would take to sell the current inventory of homes on the market, given the pace at which they are now selling and assuming no new listings are added.  

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Want to see how the real estate market is trending along the Front Range of Northern Colorado? As we get into the winter months, inventory continues to decrease. Still plenty of activity on the market with strong buyer demand. Home values are going up and are forecasted to continue rising due to ongoing inventory issues. Mortgage rates are slowly increasing and will continue to rise into 2022 so it might be a good time to start if you plan on buying a home. For more details, check out this episode to get the latest data on how the real estate market is trending along the Front Range of Colorado.

What is earnest money?  How much will it be and where does it go?  I'll answer these questions and more in this episode.  

Ever wonder what is involved in the purchase of a home, and more importantly, how much money is this going to cost you out of pocket? Today I’m going to be talking about those up-front costs involved in purchasing a home. These are expenses that require you to have cash on hand to pay for before you get to the closing table. I’ll talk about earnest money, home inspections, surveys and the cost of consulting with other professionals, whether they be attorneys, accountants, engineers, etc.

Spoiler alert, not much has changed since last month.  Inventory is still low and buyer demand is strong, especially for updated homes that are move in ready.  However, in this episode I do cover mortgage rate projections through the 3rd quarter of next year.  Good information to have when you're considering whether or not you should buy or sell a home soon.  In helping you to be best prepared for making such a big decision, I highlight my Buyer and Seller Guides that are available to you for free.  Just get in touch and I'll send you a copy!  

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions.

The real estate market appears to be showing the typical market slowdown that it does in the Fall.  However, we are still experiencing the effects of the pandemic and all that it entails, so nothing is certain.  What is certain is that inventory remains low and demand from buyers remains high.  This will result in home values moving upward, though likely at a slower pace in the coming years.    In this episode I’ll review the data for the month of September for Boulder, Larimer and Weld Counties.  I’ll also show some figures from the national market to show how home sales are trending across the nation.