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February 3, 2012
The Denver real estate market is well into the first quarter, and 2012 could be a game changer. The low inventory has well priced homes positioned to receive multiple and back-up offers. Open House Season is near, let the March Madness begin.
If you are undecided on listing your home this spring take a look at a few economic projections. Heather Draper, journalist with the Denver Business Journal summarized the comments by James Paulson, Chief Investment Strategist for Wells Capital More...
January 23, 2012
The number of homes on the market in metro Denver in December 2011 slipped to the lowest level in more than a decade.
There were 12,531 homes on the market in December, down 33.6 percent from the same month in 2010. In 2000, the inventory hit a low of about 9,000.
Most experts say that if inventory continues to drop, it could have a dramatic impact on the market, perhaps reducing the number of transactions.
In August, the number of metro Denver homes on the market More...
January 5, 2012
Positive news on home sales, coupled with improved prospects for job growth, sent stocks higher on Wall Street on December 29th, according an Associated Press article published in the Denver Post on December 30th.
The Dow Jones Industrial Average rose 136 points from the day before. In addition, Standard & Poor’s 500 edged back into the black for 2011 at year’s end.
The number of Americans who signed contracts to buy homes in November rose more than seven percent More...
The Census Bureau reported recently that many states that posted big population gains in the 2010 census are now seeing the decade-long growth slowing due primarily to the prolonged economic slump that is stretching into larger portions of the south and west.
As a whole, the U.S. population grew by 2.8 million, reaching 311.6 million people. That growth of 0.92 percent was the lowest since the mid-1940s, hurt by fewer births and less immigration following the recent recession. The More...
December 30, 2011
Homeowners whose mortgage payments were changed under a program aimed at reducing foreclosures redefaulted at a slower rate after lenders gave more generous modifications, according to the U.S. Comptroller of the Currency.
In an article penned by John Gittelsohn on Businessweek.com, about 18 percent of modified loans were at least 90 days delinquent within a year in the third quarter, compared with 20 percent in the previous three months, according to the Comptroller’s Mortgage More...
December 28, 2011
Freddie Mac recently released the results of its Primary Mortgage Market Survey showing averaged fixed-rate mortgage rates at or near all-time lows, helping keep homebuyer affordability high. The 30-year fixed rate averaged 3.91 percent on December 22nd, a new all-time low from the previous low of 3.94 percent. The 15-year fixed rate matched the previous all-time low of 3.21 percent.
“Rates on 30-year fixed mortgages have been at or below four percent for the past eight weeks More...
December 16, 2011
Single-family luxury homes and condominiums continued to keep pace with 2010 as buyers purchased a total of $522,693,822 in million-dollar-plus homes comprised of 350 transactions year-to-date through November 2011. This compares with $543,437,818 in total luxury homes sales in 2010, which also represented a total of 350 transactions.
The sales volume through November 2011 represented a 3.8 percent decrease in volume but clearly shows that the luxury home market is maintaining its More...
November 28, 2011
The Bureau of Economic Analysis reported that its advance estimate place economic growth at a 2.5 percent annual rate during the third quarter, more than three times the pace of the first half of the year. The most important contribution to Gross Domestic Product was domestic aggregate demand, which rose 3.6 percent annualized, the second biggest quarterly gain in five years.
Some positive news also came from the latest retail sales report, which showed the fifth straight monthly More...
November 21, 2011
Bloomberg.com recently reported that the number of Americans filling applications for unemployment benefits fell to the lowest level in seven months. Viewed as a sign of economic recovery by some, jobless claims fell by 10,000 to 390,000 in the week ended November 5th, according to the Labor Department.
The number of people on unemployment benefit rolls decreased, while those getting extended payments rose. According to Bloomberg, waning dismissals pave the way for bigger gains in More...
Builders broke ground on more homes than forecast in October and construction permits climbed to the highest level since March 2010, according to Bloomberg.com. Some believe that this increase is a sign that housing may become less stagnant in the third year of economic recovery.
Starts decreased 0.3 percent to a 628,000 annual rate from September’s 630,000 pace that was slower than previously reported, according to the Commerce Department. The median estimate of economists More...
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