2.5 Per Household

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On average, up and down the Front Range, there are 2.5 people living in each household.

This is an important number to know as you read the stories about census data and population growth.

Obviously, as population grows, housing needs also grow.

For every 100 people added to the population, there needs to be 40 more housing units to accommodate those people.

Those housing units come in all shapes and sizes of course.  Some are for sale and some are for rent.

The projection is that by 2040, Northern Colorado (Larimer and Weld Counties) will have 1,000,000 people which is 300,000 more than today.

So, Northern Colorado needs a total of 120,000 more housing units or 7,000 per year.

Metro Denver will grow by 500,000 people in that same time frame and will need 200,000 more housing units or 12,000 per year.

Big population growth means big growth for housing.

The post 2.5 Per Household appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

2.5 Per Household

/in , , , , /by

On average, up and down the Front Range, there are 2.5 people living in each household.

This is an important number to know as you read the stories about census data and population growth.

Obviously, as population grows, housing needs also grow.

For every 100 people added to the population, there needs to be 40 more housing units to accommodate those people.

Those housing units come in all shapes and sizes of course.  Some are for sale and some are for rent.

The projection is that by 2040, Northern Colorado (Larimer and Weld Counties) will have 1,000,000 people which is 300,000 more than today.

So, Northern Colorado needs a total of 120,000 more housing units or 7,000 per year.

Metro Denver will grow by 500,000 people in that same time frame and will need 200,000 more housing units or 12,000 per year.

Big population growth means big growth for housing.

The post 2.5 Per Household appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

Rate Prediction

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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 Fed tempering their increases as inflation starts to ease in the second half of the year.

Because of this prediction, we see housing demand increasing as rates decrease throughout the year.

The post Rate Prediction appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

No Bear

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Altos Research is one of the most trusted sources of real estate market information in the United States.  Each week they track every single home for sale across the Country.  They analyze the pricing, supply, demand, and status changes for all listings.  This amount of data allows them to expertly predict changes in the market.

Their founder, Mike Simonsen, recently said this about the current state of the real estate market:

“The most important thing to take away is that the most bearish scenarios for home prices this year are not taking place.   If a buyer is sitting on the sidelines waiting for a home price crash, in general across the country that’s not happening.

“We can measure demand and the direction of future sales prices by looking at the percent of homes on the market with price reductions. This number, frankly, is lower than I would have expected given how few buyers were out in the fall. This a sign that sellers are not panicking and that smart, properly priced listings are getting their offers.”

 

The annual Market Forecast featuring Chief Economist Matthew Gardner is February 1st at 5:30pm.  To see the details and to RSVP, visit www.ColoradoForecast.com

The post No Bear appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.

No Bear

/in , , , , , /by

Altos Research is one of the most trusted sources of real estate market information in the United States.  Each week they track every single home for sale across the Country.  They analyze the pricing, supply, demand, and status changes for all listings.  This amount of data allows them to expertly predict changes in the market.

Their founder, Mike Simonsen, recently said this about the current state of the real estate market:

“The most important thing to take away is that the most bearish scenarios for home prices this year are not taking place.   If a buyer is sitting on the sidelines waiting for a home price crash, in general across the country that’s not happening.

“We can measure demand and the direction of future sales prices by looking at the percent of homes on the market with price reductions. This number, frankly, is lower than I would have expected given how few buyers were out in the fall. This a sign that sellers are not panicking and that smart, properly priced listings are getting their offers.”

 

The annual Market Forecast featuring Chief Economist Matthew Gardner is February 1st at 5:30pm.  To see the details and to RSVP, visit www.ColoradoForecast.com

The post No Bear appeared first on Fort Collins Real Estate | Fort Collins Homes for Sale & Property Search.