I hope you enjoyed the Easter/Passover weekend! It was lovely here in Summit (well, OK, it was cloudy and gray, but the snow is melting and the crocus in my garden are poking their heads up through the mud!
In Summit County 'mud season', when things slow down, normally starts after Easter because that is when the ski resorts mostly closed in the past. This year is unique as it is the first time in around 20 years the Breckenridge is going to staying open through Memorial Day. And they have stated this will continue in the future. A-Basin is also still open, of course, and will likely make it into June. This change could cause a slight shift is real estate purchasing patterns. I will track any changes and let you know.
Here is a mortgage rate update in case you are thinking of purchasing this spring:
- Rates rose 0.04% this week as US unemployment rates continue to drop, inflation numbers showed minimal movement, and strong economic data out of China was released.
- Despite the small increase in rates over the first two weeks of April, rates are still down 0.18% since the beginning of March and still significantly lower than in 2018.
- The combination of a 50 year low for unemployment, controlled inflation, and historically low rates should benefit home buyers preparing for spring.
The spring selling season has begun! Let me know if you are curious about the value of your property, or want us to keep a lookout for the perfect property for you.