Those of us in the real estate industry agree that the years 2020 to 2022 were anomalies. During that time there were unique factors which drove abnormally high real estate activity.The number of transactions that occurred in those three years were at levels never seen before. It has become customary to compare the market in 2023 to the years 2016 to 2019 when looking at the number of closed transactions. Here’s what is interesting, while the number of closings so far this year is much less than last year, it is very close to what we saw in the more normal market of 2016 to 2019. Last month, 295 properties closed in Larimer County and 296 closed in Weld. The average January during 2016 to 2019 was 334 in Larimer and 303 in Weld. So, this year is only 12% lower than the average in Larimer County and 2% lower in Weld.
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Market Data • February 28, 2023
A Little Perspective
by Brandon Bidwell
Economic Employment & Real Estate As the job market goes, so goes the housing market. This is a fact about any primary housing market. If employment is growing, the housing market will keep growing. One of the many positive indicators of the healthy Northern Colorado economy is the fact that the jobs lost during the pandemic have bounced back. Not […]
Mortgage Mortgage Rate Prediction Our Chief Economist, Matthew Gardner predicts that interest rates will hit 5.4% by the end of 2023. His prediction is aligned with most expert real estate economists. While rates will continue to bounce up and down as the year goes on, the general trend will be lower rates. This prediction is mainly based on the […]
Architecture Remodeling Projects to Avoid When Selling! It’s common for homeowners to feel compelled to remodel their homes before they sell. Renovating the spaces in your home can increase its value and help you compete with comparable listings in your area. However, some remodeling projects are more beneficial than others as you prepare to sell your home. Always talk to your agent to determine […]