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| NoCo Market Statistics: July 2010 National Numbers that Drive Real Estate County Housing Market Snapshots: 1st Quarter 2010 Trends | |
| NoCo Market Statistics: July 2010 July 2010 northern colorado real estate market statistics are in! In the chart below, we examine the following leading market indicators for Greeley, Loveland/Berthoud and Fort Collins:
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| National Numbers that Drive Real Estate Numbers Released 8/7/10 Home Sales Existing home sales marked the twelfth consecutive month of year-over-year increase in June with a 9.8% jump to 5.37 million units sold. On a monthly basis, sales activity eased 5.1% from May. The moderation in home sales reflects “understandable swings as buyers responded to the tax credits,” according to Lawrence Yun, NAR chief economist. He anticipates such impact to show up in the next two months. In June, first-time buyers’ purchases, while down from 46% in May, remained historically elevated at 43% of sales. Median Home Price June’s median home price increased for the fourth consecutive month to $183,700. This is up 5.2% from May and 1% from a year ago. Distressed homes, accounting for 32% of sales last month, continued holding home prices at highly affordable levels for the time being. While distressed sales hovered around the same level as a year ago, the gain in home prices is pointing to a sustained stability in the making (see graph below). Inventory—Month’s Supply Total inventory edged up 2.5% to 4 million from 3.89 million last month, providing buyers with a nice selection of homes. This represents 8.9 months of supply at the current pace of sales. The increase, while pulling housing supply above the 8.3 months in May, is still 5.3% below levels seen a year ago, and it is unlikely to have a significant impact on home prices due to overcorrection in many markets. Affordability - Percentage of Income Housing remains highly affordable, and prospective home buyers stand to benefit from the lowest mortgage rates in decades, as well as advantageous home prices. The home price-to-income ratio continues to remain well below the historical average of 25%, but stabilizing home prices are drawing affordability back up toward more normal levels. The ratio now stands at 15.7%.  * Latest Data Release: July 22, 2010. Source: National Association of Realtors. Source: Keller Williams Realty, “This Month in Real Estate,” released 8/7/10. | |
| County Housing Market Snapshots Please note: The second quarter 2010 column (Q2 ‘10) shows forecasted movement. Actual second quarter 2010 numbers will be available in follow-up posts. Source: IRES “Economic and Market Watch Report, 1st Quarter 2010” | |
Larimer County, 1st Quarter 2010  | |
Weld County, 1st Quarter 2010  | |
Specializing in RESIDENTIAL ACREAGE Properties, Horse Facilities,and FARM AND RANCH properties in Northern Colorado areas
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