Latest from Blog

All
  • All
  • Housing affordability crisis
  • Local Denver economic news
  • Local Denver real estate news and stats
  • National Economic News
  • National real estate news and stats
  • New construction data and info
  • Uncategorized

83% of Gen Z Plan to Buy a Home

PropertyShark recently surveyed 2,134 U.S. renters, homeowners, and people living with family to determine their housing preferences. They discovered that 83% of Gen Z has plans to purchase a home in the next 5 years. Who is Gen Z? Typically people born since 1998 or 2000. About a third of both Millennials and Gen Z’s…

Why Wages Aren’t Rising

Federal data shows that the average worker in 2000 received 27% of the compensation in benefits which include bonuses, paid leave, and contributions to health insurance and retirement accounts. As of the 2nd quarter this year, employees now receive 32% of their compensation in benefits. And this data does not include nonmonetary benefits like flexible…

Redfin Says More People Are Leaving Denver

Redfin counted 3,007 more outbound searches on its portal than inbound searches for metro Denver during the 2nd quarter. In the first quarter this number was 309 more outbound searches and before this we had more inbound searches. 20% of those outbound searches were for homes in either Ft. Collins or CO Springs. So, some…

We have the Lowest Mortgage Delinquency Rate

According to CoreLogic our nation’s mortgage delinquency rate in June dropped to 4.3%, down 0.3% from a year ago. Colorado has the LOWEST delinquency rate in the country yet again at just 2%. Metro Denver’s delinquency rate was just 1.8%, 2nd lowest in the country after San Francisco.   So, out of 1,000 homes owned…

Why There Are So Many Price Drops

The Denver Business Journal had a great story about the price reductions we are seeing in our market based on DMAR data that I will share with you. In August, 33% of all sold homes reduced their prices before selling and these homes sold in an average of 48.3 days. Whereas, the 67% of homes…

Rates Have Hit 5%

I predicted in June that mortgage rates would hit 5% in the 3rd quarter and they finally have done that. It did take a little longer than I thought it would though as I expected the Fed’s fewer purchases of bonds would affect rates sooner than later.   It’s expected that the Fed will raise…

Nearly 2/3 of Seniors Don’t Want to Move

According to a recent AARP survey of its members (who are 50 or older) found that 63% of them want to remain in their current home for as long as possible. 68% of those surveyed want to remain in their same community.   Why is this important? People over age 50 really don’t want to…

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? 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 for signs of a bubble in…

Downtown Denver Office Market is Exploding

Real estate advisory firm Newmark Knight Frank said that businesses will move into more than 1 MILLION square feet of downtown Denver office space this year thru 2021. On average since 1980 businesses have moved into 322k square feet a year. So, this is more than a 300% increase. WOW!   I read another story…

Everyone Should Freeze Their Credit Report

You can now freeze your credit report for FREE thanks to a new law that went into effect last Friday. And you can remove the freeze for FREE too. The freeze keeps every creditor from accessing your credit history when someone is applying for new credit in your name or SSN. This will help stop…

“But, I Want a Deal”

How often do we hear our clients say this? Maybe every day. And how do you answer them? As part of the SMDRA Statistics Committee we have discussed this and here is how you get a deal. WAIT.   Buy now and wait a couple quarters or even a year. Home prices are rising by…

Highlands Ranch a Top Place to Live

Realtor.com and Money Magazine just released their annual Best Places to Live List and this year the list focuses on communities with more than 50k people in them. To come up with their rankings they looked at economic health, crime rates, public school performance, local amenities, housing, and cost of living. Highlands Ranch came in…