Walters & Company Newsletter

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Monthly Market Update

The market stays robust for Denver in the month of October even though we see our lowest inventory in 30 years. You can see below sales price and sold price continue to rise and that there has been no change in days on market, year-over-year or month-over-month.

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What Do We Mean When We Say “Average”?

Of the homes that sold in October, the average detached single family home was 1,849 square feet, 4 bedrooms, 3 bathrooms and was built in 1979. The average attached family home (i.e. Condo) was 1,239 square feet, 2 bedrooms, 2 bathrooms and was built in 1987.


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Powerful Economic Data from Lawrence Yun……

Doctor Yun, Chief Economist for the National Association of Realtors, was in Denver at the end of April and shared lots of Data with the local Denver community of Realtors. His over all opinion of the Data was positive for the Housing Market for Denver and for our Nation as a whole. Below are some Data Points for you to browse from his speech:

  • We lost 8 mil jobs in the recession and have since added 12 mil
  • unemployment insurance claims at a 15 year low
  • Denver alone has added about 300,000 jobs since 2010 (could explain low inventory)
  • Household net worth at all time high Nationally
  • Vacation home Sales have doubled in the past two years
  • Pent up demand for housing is at an all time high, construction still sluggish
  • Since 2000 our population has grown by 37 million in 2014
  • 2000 New Homes Sales 880 K vs 2014 New Home Sales 440K
  • Average income is on the rise in Denver and while there have been negative pressures from the Engery sector the other parts of our economy are doing enough to offset them
  • 36% of all US folks Rent this number will trend higher as loans continue to be difficult to get and because we don’t have enough inventory for the 1st time home buyer sector.
  • The Landlord market will stay strong in Denver until we have enough rental units to keep pace with our population growth. This could be awhile.
  • Construction has been slow to re-bound in Denver mainly because of lack of land and backlogged city construction permits.
  • Looking for rates to be higher in 2016
  • Continued low inflation rates

Just some points from his talk…if you would like the slides I am happy to provide them to you! Just send me an email at 5280walters@gmail.com and I will get them over to you in a jiffy!

Denver Business Journal Reports that Denver Home Prices are…

Denver-area home-resale prices rose an average 9.1% in March from a year earlier, and also were up 1.4% from February, reaching an all-time high level, according to the latest S&P/Case-Shiller report. The Denver area’s year-over-year price gain was the same as in February, and marked the 15th straight month with a year-over-year price increase of 8.9% or more. Denver metro area home prices were up 9% year-over-year in both January and December 2013.

But while home prices in metro Denver edged down 0.1 percent between January and February, they rose a robust 1.4 percent between February and March, topping the average gain for 20 cities tracked by the closely followed Case-Shiller report series from S&P Dow Jones Indices LLC, based on non-seasonally-adjusted data.

March was the 27th consecutive month with a year-over-year gain in Denver prices, according to Case-Shiller data.

Data taken from The Denver Businss Journal May 2014