The Housing Market and Good News!
Happy Tuesday Morning to YOU!
Despite the massive rain in Colorado (we've had nearly 50 straight days of rain in Summit County) the sun is shining today- hopefully it will help dry up some of our soggy state....!
Here's some good news from the Keeping Current Matters website:
Rick Judson, chairman of NAHB
Responding to the report that over 80% of housing markets are improving:
“While there is still plenty of room for growth, this is an excellent indication of how the housing recovery has begun to take hold across more geographical areas.”
Tim Sloan, Wells Fargo Chief Financial Officer
“When you look at any sort of statistics in the demographics in terms of household creation as well as household affordability, they are still very attractive and should drive a continued recovery in the housing business.”
Dr. Alex Villacorta, VP of research and analytics at Clear Capital
“With the continued strengthening of home price trends in August, the need for perspective on market activity is even more important…Considering the low tier price segment of the housing market led the recovery, the cooling in this segment will likely transfer through to the broader housing market. That’s not to say the recovery is slated to stall, rather growth patterns are likely to return to more historical rates of growth, between 4.0 percent to 5.0 percent, rather than align with bubble-like growth… At the end of the day, this is still great news for housing.”
Bradley F. Hunter, the chief economist at MetroStudy
“We have gone from a situation where five years ago everyone was saying, ‘There are too many lots,’ to today, builders are literally crying on our shoulder saying, ‘There are not enough lots. We can’t find any.”
Jay Brinkmann, Mortgage Bankers Association chief economist
“The recovery we’ve seen has been related to the fact that the economy is creating jobs at a steady rate and those jobs do translate into paychecks, some of those paychecks go to pay rentals and others go toward mortgages.”
The Real Estate market in Summit County has seen an overall increase in number of sales and volume - up by about 12% from 2011. Prices are stable- not yet appreciating much, but happily not depreciating!
Give us a call if you would like a detailed market valuation of any property in Summit County- or if you're just curious about what's happening here! We'd love to help.
Here's our listing of the week:
102 Twenty Grand Drive
This huge duplex boasts 4 bedrooms + den, oversized 2-car garage, tons of windows and sleeps 15! Gorgeous views all around from the large master deck in front, to the lovely views of Buffalo and Red Mountains from the private hot tub and deck in bac...