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Local Market Statistics
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NoCo Market Statistics: May 2010
National Numbers that Drive Real Estate
County Housing Market Snapshots: 1st Quarter 2010 Trends
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NoCo Market Statistics: May 2010
May 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:
- U/C = Under Contract
- Number of sold properties
- MSI = Month’s Supply of Inventory
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National Numbers that Drive Real Estate
Numbers Released 6/7/10
Home Sales
Existing home sales strengthened in April to 5.77 million, up 8.7% from March
and 22.8% from last April. This is the tenth consecutive month of year-over-year
increases. According to Lawrence Yun, NAR chief economist, although part of the
uptick was expected from the tax credit, there’s also been a return of buyer
confidence due to stabilized prices, an improved economy, and continued
advantageous interest rates. In March, 49% of sales were from first-time buyers.
Median Home Price
The median price for an existing home was $173,100 in April, up 2.1% from a year
ago and 4% from March. Distressed homes, accounting for a third of last month’s
sales, continued skewing prices downward slightly. Overall, prices this past
year showed increased stability over the previous year (see chart below).
Inventory—Month’s Supply
Total housing inventory rose slightly to 4.04 million in March, representing
slightly less than an eight-and-a-half month supply of sales. Compared to the
previous year, there are now 3% more homes on the market. Although this is the
first rise in twenty consecutive months, NAR’s chief economist believes this
increase can be attributed to the summer selling season and that home prices are
back on track.
Affordability - Percentage of Income
Affordability remains at record levels, supported by the lowest mortgage rates
in decades, low home prices, and the first-time home buyer tax credit. The home
price-toincome ratio of 14.2% continues to remain well below the historical
average of 25%.
* Latest Data Release: May 24, 2010. Source: National Association of Realtors.
Source: Keller Williams Realty, “This Month in Real Estate,” released 6/7/10.
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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”
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Larimer County, 1st Quarter 2010
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Weld County, 1st Quarter 2010
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