Local Market Statistics

2009 Northern Colorado Economic Outlook
County Housing Market Snapshots: 2nd Quarter 2008 Trends
Real Estate Economic Indicators
County Housing Market Snapshots: 1st Quarter 2008 Trends
1st Quarter 2008: Fewer Homes For Sale
County Housing Market Snapshots: 4th Quarter 2007 Trends
2009 Northern Colorado Economic Outlook
The Northern Colorado Economic Development Corporation (NCEDC) recently released their 2009 Northern Colorado Economic Outlook. You can download a complete copy of the report from the NCEDC website at www.NCEDC.com. Below are highlights from the report:
  • 2008 population 528,500
  • Projected 2013 population 612,700
  • 4,994 new jobs created between July 2007 and 2008 (2.3 percent)
  • 4,000 projected new jobs added to the region in 2009
  • Unemployment rate (July ‘08) 4.9 percent, 1.1 percentage points lower than U.S.
  • $38,465 earnings per worker in 2007, up 7.6 percent (inflation adjusted) since 2001 and 2.1 percent since 2006
  • 1,500 projected new Single Family building permits issued in 2008

Source: Northern Colorado Economic Development Corporation, “2009 Northern Colorado Economic Outlook,” pulled 11/10/2008

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County Housing Market Snapshots
2008 2nd Quarter Trends

In the first two months of the second quarter, 2,552 jobs were added to the payrolls of Larimer County. Average monthly employment fell from 4.3% during the first quarter to 3.8% for April and May. The strong employment climate may help create demand for home purchases. In Weld County, the average monthly unemployment rate fell from 5.2% during the first quarter to 4.7% in the second quarter. Please note: The third quarter 2008 column (Q3 ‘08) shows forecasted movement. Actual third quarter 2008 numbers will be available in follow-up issues. Source: IRES “Economic and Market Watch Report, 2nd Quarter 2008”

Larimer County, 2nd Quarter 2008


Weld County, 2nd Quarter 2008

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Real Estate Economic Indicators
The Northern Colorado Business Report releases Economic Indicators


FC = Fort Collins; LVLD = Loveland; GRLY = Greeley
Note: Unless otherwise indicated, all statistics are for Larimer and Weld counties combined.
* Projected population numbers from the Colorado Division of Local Government; U.S. Census Bureau Source: Northern Colorado Business Report, “Economic Indicators—August 1, 2008”
http://www.ncbr.com/section.asp?secID=27

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County Housing Market Snapshots
2008 1st Quarter Trends

In the first quarter, employment decreased in Larimer County, however, the job market continues to remain strong. That combined with historically low interest rates means home sales should continue at a strong pace. In Weld County, jobs increased by 427 jobs, however, the number of job seekers also increased so the unemployment rate did rise. Like Larimer County, however, the relatively strong job market and low interest rates should continue to spur sales. Please note: The second quarter 2008 column (Q2 ‘08) shows forecasted movement. Actual second quarter 2008 numbers will be available in follow-up issues of the “Key Word”. Source: IRES “Economic and Market Watch Report, 1st Quarter 2008”

Larimer County, 1st Quarter 2008


Weld County, 1st Quarter 2008

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1st Quarter 2008: Fewer Homes For Sale
Stats
First quarter figures are in for northern Colorado. The number of homes for sale dropped consistently over the last three years. This is good news for sellers, as a tightening market is key to stabilizing prices and shortening the average days on market. Check out the Northern Colorado News Briefs to learn how parts of the northern Colorado region are outperforming national trends.

The Numbers
Stats


Source: Source: IRES - Ft Collins (Area 9), excl condos Loveland-Berthoud (Area 8), excl condos; Greeley/Weld (Area 10), excl condos

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County Housing Market Snapshots
2007 4th Quarter Trends

In the third quarter, employment increased by 2,452 jobs in Larimer County during October and November while jobs increased by 1,850 jobs in Weld County during the same period. However, the number of job seekers also increased in both counties. The combined effect of these trends is no change in the average monthly unemployment rate from 3.2% in the third quarter for Larimer County, and 3.9% for Weld County. In both counties, the new jobs should help to strengthen demand, while historically low mortgage rates should continue to spur sales. Source: IRES “Economic and Market Watch Report, 4th Quarter 2007"

Larimer County, 4th Quarter 2007


Weld County, 4th Quarter 2007

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