Jon Caldara had an interesting article a few years back when he declared it was “time to rename our state East California.” Is such a bold statement warranted? This year TSI, formerly known as Transit Systems, Inc., listed Colorado at the number 7 state in the US that Californians moved to 2017 with 27,014 moving from California to Colorado, up 0.4% from 2016. And is it any wonder that Californians are flocking to our state? Colorado is 12% above the national average overall cost of living compared to 17% for California. If we compare the cost of living with the east and west coast cities, Col ..read more

We are in the thick of fall, but metro Denver real estate prices did not get the memo. The Denver housing bulls received some great information from the November DMAR report that was released this week. Metro Denver home prices rose in October 2019 from September 2019 as well as year over year. September to October 2019 Metro Denver Home Prices Trends Month over month median and average prices Metro Denver home prices rose in October. In the Denver Metro area, median prices rose 1.98% and were up 1.22% for average residential prices. The monthly rises in prices were unexpected, as prices ..read more

They say that October is the scariest month of the year, and if we look at housing market data, they are right. Several housing data reports came out last week and point to a sickly market. Existing Home Sales Fall Sales of previously owned homes or existing home sales fell 2.2% month over month in September. Experts were forecasting a modest drop of 0.7%, so the actuals for September were much below expectations. In unit terms, the seasonally adjusted annual rate of 5.50 million for August fell to 5.35 million in September. Existing home sales increased for two straight months in July a ..read more

They don’t call it Fall for nothing. As summer ended, US homebuilding starts fell 9.4% to a seasonally adjusted annual rate of 1.256 million units in September 2019 lead by a big decline in the multi-family housing, the Commerce Department said today. One piece of good news was the data for August 2019 was revised higher to 1.386 million units, which would be the highest level of starts since the financial crisis. Economists, wrong as usually were expecting a 3.2% decline to 1.320 million unit annualized. US Housing starts rose 1.6% year over year as well. Starts decreased across all four nati ..read more

Welcome to the scariest month of the year, and boy did the Denver housing bulls get some scary information from the October DMAR report that was released last week. Metro Denver home prices fell in September 2019 from August 2019. August to September 2019 Residential Housing Price Trends Month over month median and average prices Metro Denver home prices fell in September. In the Denver Metro area, median prices fell 2.35% and were down 0.56% for average residential prices. The monthly fall in overall residential prices was to be expected as prices tend to weaken following the summer mo ..read more

Early this month, Nobel laureate Robert Shiller sat down with Bloomberg to discuss a wide range of topics. Shiller talks about the US-China trade war, current consumer spending level, and drops a heck of a bomb on why he thinks the US housing market could be entering a downturn after a decade bull run. Robert Shiller warned in his interview that the rise in the recession fears, driven by narratives such as the US-China trade war and the inversion of US Treasury yield curves, could be just enough negativity in the news to weigh on the psyche of the American consumer. He suggested that the ..read more

Welcome to our new blog, we hope you like the new layout and easier to find URL. We also ditched the Disque comments system for WordPress, so feel free to comment. We also have a new and improved search function so be sure to check out our old predictors to see how accurate we have been. August Pending Homes Sales More Americans signed contracts to buy homes in August, which is a likely signal that low mortgage rates from the last few months may have jumpstarted a turnaround for the national housing market, led by our home region the West. Both new- and existing-home-sales rebounded in t ..read more

Hopeful everyone had a nice break for Labor Day to start the month September, we did, and now we are back to work with a new blog post. The red hot July housing market in the metro Denver region has cooled in August. Month over month median and average prices were down. In the Denver Metro area, median prices fell 1.16% and were down 1.30% for average residential prices. Single-family homes sold price were at $537,024, up 3.53% from August 2018. Housing inventory is down 0.1% to 9,350 from July to August. However, if we look at the year over year inventory statistics, inventory is up a healthy ..read more

Year over year prices in Metro Denver area acting like our thermometer in August, they are on fire. In the August ’19 DMAR housing report year over year the pace of the housing prices rose with the average residential prices rising 4.27%, and the median residential prices up 4.58% from July 2018 to July 2019.  Month over month median and average prices were split. In the Denver Metro area, median prices rose 1.17% and were down 0.21% for average residential prices. Single-family homes sold price were at $551,516, up 0.58% from June 2019. Housing inventory is down 1.69% to 9,259 from June to Ju ..read more

The recent weakness in the national housing market has changed, perhaps due to a large drop in mortgage interest rates. One area where we saw this strengthening was in pending home sales. Experts were forecasting pending home sales to increase by 0.5% month over month but saw an even more solid beat, rising 2.8% month over month. Sales were 1.6% higher compared than last year, June 2018, and it also was the first annual gain in 17 months, which was a larger drought than a Rockies playoff berth. Pending homes sales or signed contracts are an indicator of closed home sales one to three months ou ..read more