Existing-home sales in Colorado rebounded strongly in March 2019; although sales are down year on year, signs of a robust spring are in the air. According to littlebighomes.com a publisher of real-estate market data in all fifty states the forecast for Colorado ending 3rd quarter 2019 is “UP”.
According to the Colorado Association of Realtors, Colorado for-sale home inventory decreased 31.9 percent year on year in the month of April; but the number of new listings has increased 37.3 percent over this month last year.
The Current Median sales price for a typical house in the state of Colorado $379,300.00 up 5 percent from last year and Zillow predicts prices will rise another 2.9 percent in 2019.
According to HUD in the calendar year 2018, FHA’s overall share of the mortgage market was about 17%. FHA closed out 2018 with just under 20% of the market share for loans.
Today’s rate. Current rates in Colorado are 3.967% for a 30-year fixed, 3.424% for a 15-year fixed, and 3.526% for a 5/1 adjustable-rate mortgage (ARM).
Freddie Mac predicts that total home sales will slowly regain momentum, eventually increasing to 6.09 million in 2019 and to 6.14 million in 2020.
The Fannie Mae economic and strategic research group Group’s housing and mortgage finance forecast calls for total home sales in 2019 to be essentially flat from 2018
According to data published by littlebighomes.com, Colorado real-estate has appreciated 56 percent over the last 5 years putting Colorado squarely in the 98th percentile for appreciation among all other states.
According to Veros Real Estate Solutions, the state of Colorado will be a leader in real estate appreciation in 2019. In the most recent release of the US Housing Outlook Report Versos names the top 10 housing markets projected to appreciate by a staggering 6.5 to 9.5 percent. Colorado boasts as home to 2 out of the top 10 cities for appreciation in the country.
According to Eric Fox VP of statistical and economic modeling at Veros, Colorado MSAs are a projected leader and he expects to see real estate values increase by 9percent or more through the end of the year.
The 2 markets in Colorado with real estate values projected to exceed 6% appreciation are Boulder, and Grand Junction.