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 people are not looking to move very far.
The #1 city for inbound searches to Denver was Seattle. No confirmation yet if these were all Amazon employees who will be moved soon.
It will be interesting to see what other “moving” sources say such as moving companies this fall. But, the definitive data comes from the U.S. Census Bureau and our State Demography Office which are typically about a year behind.
At the same time the apartment vacancy rate has dropped from 6.4% at end of the year to just 5.2% by June 30th even though builders built 7,000 more apartments. This tells me that apartment demand metro-wide is incredibly strong, which typically means MORE people moving here.
Rate Update–
- Conventional 30 year 5.00%/APR 5.117%
- FHA 30 year 4.75%/APR 5.69%
- FHA 30 year with a 580 Fico Score 5.25%/APR 6.554%
- FHA 30 year with a 550 Fico Score 5.625%/APR 6.804%
- VA 30 year 4.75%/APR 4.96%
- VA 30 year with 550 Fico Score 5.50%/APR 5.96%
- CHFA First Step (FHA loan) Down Payment Assistance Program 30 year fixed at 5.125%/6.165%
- CHFA Conventional Down Payment Assistance Program 30 year fixed at 5.375%/APR 5.970%
- Conventional 3% down with NO PMI 5.625%/APR 5.798%
- Jumbo 30 year 4.75%/ APR 4.867%
- Jumbo 7/1 ARM 4.25%/ APR 4.25%