Economic Snapshots and Stats

Northern Colorado Economic Snapshot - February '13

The Northern Colorado real estate market continued its active pace in January/2013 as residential sales outpaced January/2012 sales. Single family home sales were UP 38.76% (315 vs. 227). Attached unit sales were down 14.07% (55 vs. 64). The collective market was UP 27.14%. Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the Northern Colorado real estate market is in 2013. January/2013 ended the month with nearly 29% FEWER active single family homes on the market compared to the end of January/2012 (1690 vs. 2392). When you take January/2011 into consideration, there were 40% FEWER single family homes available at the end of January/2013 (1690 vs. 2392). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the Northern Colorado real estate market.

  • It’s a seller’s market, especially at the entry-level. The Absorption Rate for Northern Colorado at the end of January/2013 for single family homes was 166 days. That number at the end of January/2012 was 258 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In Northern Colorado, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.

South Metro Denver Economic Snapshot - February '13

The South Metro Denver real estate market continued its active pace in January/2013 as single family homes and attached unit sales outpaced January/2012 sales. Single family home sales were UP 21.22% (731 vs. 603). Attached unit sales were UP 43.09% (342 vs. 239). The collective market was UP 27.43%. Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the South Metro Denver real estate market is in 2013. January/2013 ended the month with nearly 39% FEWER active single family homes on the market compared to the end of January/2012 (1378 vs. 2251). When you take January/2011 into consideration, there were 66% FEWER single family homes available at the end of January/2013 (1378 vs. 4053). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the South Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the South Metro Denver real estate market.

  • It’s a seller’s market, especially at the entry-level. The Absorption Rate for South Metro Denver at the end of January/2013 for single family homes was 58 days. That number at the end of January/2012 was 115 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In South Metro Denver, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.

Mountain Suburbs Economic Snapshot - February '13

The Mountain Suburbs real estate market continued its active pace in January/2013 as single family home sales outpaced January/2012 sales. Single family home sales were UP 87.50% (386 vs. 301). Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the Mountain Suburbs real estate market is in 2013. January/2013 ended the month with nearly 21% FEWER active single family homes on the market compared to the end of January/2012 (407 vs. 515). When you take January/2011 into consideration, there were 32% FEWER single family homes available at the end of January/2013 (407 vs. 599). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the Mountain Suburbs real estate market.

  • It’s a seller’s market. The Absorption Rate for the Mountain Suburbs at the end of January/2013 for single family homes was 210 days. That number at the end of January/2012 was 498 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In the Mountain Suburbs, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.

Metro Denver Economic Snapshot - February '13

The Metro Denver real estate market continued its active pace in January/2013 as single family homes and attached unit sales outpaced January/2012 sales. Single family home sales were UP 14.93% (785 vs. 683). Attached unit sales were UP 41.12% (350 vs. 248). The collective market was UP 21.91%. Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the Metro Denver real estate market is in 2013. January/2013 ended the month with nearly 40% FEWER active single family homes on the market compared to the end of January/2012 (1410 vs. 2334). When you take January/2011 into consideration, there were 68% FEWER single family homes available at the end of January/2013 (1410 vs. 4426). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the Metro Denver real estate market.

  • It’s a seller’s market, especially at the entry-level. The Absorption Rate for Metro Denver at the end of January/2013 for single family homes was 56 days. That number at the end of January/2012 was 106 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In Metro Denver, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.

Jefferson County Economic Snapshot - February '13

The Jefferson County real estate market continued its active pace in January/2013 as single family homes and attached unit sales outpaced January/2012 sales. Single family home sales were UP 16.95% (200 vs. 171). Attached unit sales were UP 60% (48 vs. 30). The collective market was UP 23.38%. Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the Jefferson County real estate market is in 2013. January/2013 ended the month with nearly 46% FEWER active single family homes on the market compared to the end of January/2012 (351 vs. 647). When you take January/2011 into consideration, there were 67% FEWER single family homes available at the end of January/2013 (351 vs. 1080). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the Jefferson County real estate market.

  • It’s a seller’s market, especially at the entry-level. The Absorption Rate for Jefferson County at the end of January/2013 for single family homes was 54 days. That number at the end of January/2012 was 117 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In Jefferson County, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.

Douglas County Economic Snapshot - February '13

The Douglas County real estate market continued its active pace in January/2013 as single family homes and attached unit sales outpaced January/2012 sales. Single family home sales were UP 28.23% (386 vs. 301). Attached unit sales were UP 16.66% (49 vs. 42). The collective market was UP 26.82%. Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the Douglas County real estate market is in 2013. January/2013 ended the month with nearly 22% FEWER active single family homes on the market compared to the end of January/2012 (1130 vs. 1450). When you take January/2011 into consideration, there were 52% FEWER single family homes available at the end of January/2013 (1130 vs. 2371). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the Douglas County real estate market.

  • It’s a seller’s market, especially at the entry-level. The Absorption Rate for Douglas County at the end of January/2013 for single family homes was 90 days. That number at the end of January/2012 was 149 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In Douglas County, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.

Broomfield/Westminster Economic Snapshot - February '13

The Broomfield/Westminster real estate market continued its active pace in January/2013 as single family homes and attached unit sales outpaced January/2012 sales. Single family home sales were UP 16.59% (281 vs. 241). Attached unit sales were UP 22.72% (54 vs. 44). The collective market was UP 17.54%. Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the Broomfield/Westminster real estate market is in 2013. January/2013 ended the month with nearly 17% FEWER active single family homes on the market compared to the end of January/2012 (623 vs. 755). When you take January/2011 into consideration, there were 58% FEWER single family homes available at the end of January/2013 (623 vs. 1476). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the Broomfield/Westminster real estate market.

  • It’s a seller’s market, especially at the entry-level. The Absorption Rate for Broomfield/Westminster at the end of January/2013 for single family homes was 68 days. That number at the end of January/2012 was 97 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In Broomfield/Westminster, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.

Aurora Economic Snapshot - February '13

The Aurora real estate market continued its active pace in January/2013 as single family homes and attached unit sales outpaced January/2012 sales. Single family home sales were UP 8.18% (238 vs. 220). Attached unit sales were UP 30.10% (121 vs. 93). The collective market was UP 14.69%. Sales figures for January/2013 approached January/2007 sales numbers.

The inventory of available properties will increase as winter melds into spring and the real estate market gains momentum. Available inventory will be the key to how active the Aurora real estate market is in 2013. January/2013 ended the month with nearly 42% FEWER active single family homes on the market compared to the end of January/2012 (279 vs. 481). When you take January/2011 into consideration, there were 79% FEWER single family homes available at the end of January/2013 (279 vs. 1313). The past two years have seen buyer activity increase swallowing-up available inventory. Expect this pattern to continue throughout 2013.

On the financing side, the Federal Reserve has indicated they are going to keep lending rates at historic lows through the balance of 2013 and into 2014. The Fed’s goal is to get the national economy stabilized and then growing at a reasonable rate. National unemployment rates have dipped to slightly under 8%. Colorado’s unemployment rate has pretty much mirrored the national rate for the past five years.

When the Metro Denver and Northern Colorado real estate market was HOT back in 2004 through 2007, the Colorado unemployment rate had dipped below 4%. The national rate dropped to around 4.5% at that time. In its August/2012 economic forecast, the Congressional Budget Office (CBO) estimated the unemployment rate would be 5.9% by 2017. Getting from there to below 4% again would require a Herculean effort on the part of the local, national and global economy.

But that’s the future. We have to deal with the realities of today. Here are some thoughts to chew-on in looking at the Aurora real estate market.

  • It’s a seller’s market, especially at the entry-level. The Absorption Rate for Aurora at the end of January/2013 for single family homes was 36 days. That number at the end of January/2012 was 68 days. (The Absorption Rate is the length of time it would take the market to fully sell, assuming the same rate of sales activity and no new inventory entering the market.)
  • If a property is priced competitively and in reasonable condition, multiple offers are now the norm. Short sale properties, especially, invite multiple offers.
  • The upper end of the market is showing some resiliency. Driven by low mortgage interest rates and limited inventory. 
  • As buyer demand increases, home values follow suit. We’re seeing the trickle-up effect as mid-range and upper end homes are experiencing a positive movement in values.
  • New home construction will continue to be a viable part of the housing market as the resale inventory dwindles and buyer motivation increases. 

In Aurora, the spring and early summer are characteristically the busiest time of the year with home closings peaking in the March through August period.