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Nearly 4 Million FTHBs
Nationally, according to the U.S. Census Bureau, the homeownership rate in the 3rd quarter increased to 64.4%, up from 63.9% a year ago. Why? We have millions more first time homebuyers as adults under 35 saw their homeownership rate rise from 35.6% a year ago to 36.8% now. According to Genworth Mortgage Insurance, “In…
6 of the Best Mid-Size Cities are Here
SmartAsset last week ranked the best mid-size cities to live in the country and metro Denver did incredibly well. SmartAsset ranked 173 mid-size cities with populations over 100k people on 8 factors—change in median home values, monthly housing costs, income inequality, poverty rate, median household income, unemployment rate, uninsured rate, and average commute time. …
Will Denver Home Prices Rise By > 9%?
VEROS Real Estate Solutions is predicting that metro Denver home prices will rise by 9.5% between September 2018 and September 2019. This would be the 9th highest increase in the country. VEROS has been one of the most accurate predictors over the last few years; but I don’t see our home prices rising this much…
3 Good Changes from CHFA
CHFA announced last week that as of November 5th they are eliminating county loan limits that vary and instituting a statewide income limit of $115,600 for all household sizes for the majority of their loan programs. Second, they are eliminating their debt-to-income ratio restrictions or overlays and will instead follow the guidelines from Fannie, Freddie,…
Financial News Update
September Retail Sales rose 0.1% from August due in part to a big decline in sales at restaurants and bars. That was well below the 0.6% expected. Housing starts dropped 5.3% last month to a seasonally adjusted annual pace of 1.2 million homes. However, starts are up 3.7% over a year ago. Housing starts…
Average Weekly Pay in CO Up Over 8%
The Secretary of State reported new business entity filings increased 9.3% year over year during the 3rd And business renewals increased 7.5% year over year. Colorado’s unemployment rate in September rose 0.2% to 3.1%. State-wide employers hired 5,100 new jobs last month, putting the yearly gain at 77,200 new jobs. The average work week has…
The Fed is Worried about Higher Inflation
The Fed Meeting Minutes last week definitely rattled both stock and bond investors. Here’s why— Several members are concerned that inflation may exceed their 2% target rate for a period of time. A few members noted that the economy is stronger this year than they expected it to be. It’s amazing what tax cuts can…
Do You Receive Value from My Newsletters?
Amazingly, I now have over 900 subscribers to my weekly newsletters and my open rate averages 42%-45% every week which Constant Contact has told me is one of the highest open rates in the country. Thank you so very much for subscribing and reading my newsletters!!! However, I don’t write my newsletters just to…
“Home Sales Slid Across CO in September”
This was the title of a story in the Denver Post last Saturday written by Aldo Svaldi. According to CAR the sales of detached homes dropped 14.6% last month state-wide from sales last September and sales of attached homes dropped 15.2%. According to CAR here are the declines reported by county— Adams–down 15.8% Arapahoe–down 17.8%…
Is Our RE Market In a Bubble?
The NUMBER 1 QUESTION AND CONCERN of consumers right now is our real estate market in a bubble especially after September’s RE Colorado Report? They are fearful of buying at the top of the market and over-paying for a home. This is why I have spent hundreds of hours reviewing economic and housing data looking…
Signs of a Slowing RE Market Nationally
Realtor.com recently ran a great story about the cooling off of real estate markets in some parts of the country. Here are the cities they highlighted. Santa Clara County, home to Silicon Valley, saw a 171% INCREASE in the number of homes that received a price drop in August vs. August 2017. Further, the number…
Great News on Condos
Fannie Mae recently announced that on condo communities with 21 or more units that an individual investor (person or entity) can now own up to 20% of the units in the community and the loan can still be delivered to Fannie. For as long as I can remember this percentage has been 10%. So, this…
