Real Estate Market

Market Trends

Sales Start FAST in 2017~ Data Report!

According to the National Association of Realtors®, sales of existing homes jumped out to a fast start in 2017, eclipsing a recent high and hitting the quickest pace in nearly a decade. All major regions except for the Midwest saw sales growth last month.


Total existing-home sales (transactions for single-family homes, townhomes, condominiums and co-ops), bumped up 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January from 5.51 million in December 2016. January's sales velocity is 3.8 percent above one year ago (5.48 million) and eclipses November 2016 (5.60 million) -- this is the quickest pace since February 2007 (5.79 million).


Existing Home Sales By Region


NAR's chief economist, Lawrence Yun, indicated that January's sales increase points to stability among consumers despite a rising interest rate environment. "Much of the country saw robust sales activity last month as strong hiring and improved consumer confidence at the end of last year appear to have sparked considerable interest in buying a home," Yun said.


Housing Data Takeaways

  • January's median existing-home price (all housing types) was $228,900, up 7.1 percent from January 2016 ($213,700). January's price bump represents the 59th straight month of year-over-year gains.

  • Total US housing inventory at January's end grew 2.4 percent to 1.69 million existing homes available for sale -- but this remains 7.1 percent lower than a year ago (1.82 million) and has dropped for 20 straight months. Nationally, unsold inventory offers a 3.6-month supply at the current sales pace (the same as December 2016).

  • First-time buyers generated 33 percent of US sales in January, up from 32 percent in December and one year ago.

  • Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage fell a bit in January to 4.15 percent from 4.20 percent in December. The average rate across 2016 was 3.65 percent.



WHAT'S YOUR CREDIT SCORE?

Your credit score is a composite snapshot of your credit history. A high credit score takes time to cultivate, and is not likely to rise much in a short period of time. Generally speaking, you want to make sure you pay your bills on time, keep outstanding debt levels to a reasonable amount for each account, and avoid closing accounts you've successfully paid-off and managed. Don't lose hope if you have less than perfect credit, there are still good loan programs out there for responsible borrowers. We have a list of preferred local lenders who can help you find the best financing programs for your specific needs.


Contact us and take advantage of today's low interest rates!


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Kick off Spring with the Colorado Springs St. Patrick's Day Parade!

Time to kick off the spring season with the fabulous....Colorado Spring's St. Patrick's Day Parade 2017!

When:  March 11, 2017

St. Patrick's Day Event Schedule:

8:30 am- Peddling for St. Pat's Bike Ride Start

Ride through the city on one of 3 routes; Family Ride, Intermediate Ride or the Challenging 50K Ride! End your bike ride with a party & parade watching

Behind Pikes Peak Center on Sawatch.

10:00 am- 5K Run Start-

Thousands of runners will be racing down Tejon St, up Cascade and end in Acacia Park!

11:00 am- Leprechaun Fun Run

This is for the little ones to participate in the fun.  A one mile run on Tejon St and Acacia Park!

12:00 Noon- The fantastic St. Patrick's Day Parade

On Tejon St. in beautiful downtown Colorado Springs!  View terrific floats, bands, irish dancing and so much more!

MAY THE LUCK O' THE IRISH BE WITH YOU!

Contact Information

Photo of Jorgette & Boris Real Estate
Jorgette & Boris
Colorado Casa PMI
955 Pico Point
Colorado Springs CO 80905-7380
O (719) 425-2232
C (719) 499-1232

Whether you Rent or Buy – you Pay for the Home you Occupy!

The ironic thing about people who think they can't afford to buy a home for themselves, they end up buying the home for their landlord.