Real Estate Finance News Recap: March 2021
Here’s a quick digest of what happened in real estate finance last month:
+ Mortgage rates remain historically low at 3.18% as of April 1st. However, the upward trend in rates may be a reason that homebuyer demand has dropped from 25% above pre-COVID levels at the start of 2021, to 8% above pre-COVID levels today.
+ The increase in mortgage rates from the beginning of the year is adding an average of $93 per month to homebuyers’ mortgage payments — roughly $1,100 per year.
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Real Estate Finance News Recap: February 2021
Here’s a quick digest of what happened in real estate finance last month:
+ A majority of mortgage experts predict that rates will continue to rise, although they are still near historic lows. As of February 25th, the 30-year fixed rate mortgage stood at 2.97%.
+ Did you take advantage of low interest rates and refinance your mortgage last year? Find out how it could affect your taxes as you go to file.
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U.S. Real Estate News Recap: February 2021
Here’s a quick digest of what happened in U.S. real estate last month:
+ While inventory has remained low, 5.64 million homes sold in 2020, the most in the last 13 years.
+ New-home construction activity soars to its highest level in over a decade, as single-family homes drove the growth in both housing starts and building permits.
+ The America at Home Study found that COVID-19 has shifted the motivation to buy a home as well as the trade-offs renters are willing to make to buy a home.
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Denver Real Estate News Recap: February 2021
Here’s a quick digest of what happened in Denver real estate last month:
+ Denver’s widespread broadband access, wage growth, and booming tech industry placed us as the 11th best-performing large city according to Milken Institute. Rising housing costs could hamper our future performance.
+ As the Denver metro area becomes the most expensive outside of coastal areas, first-time homebuyers have a tough time landing their first place. With a 32% decline in available listings between the third and fourth quarters of 2020, the 2% decline in average list price isn’t helping enough.
+ The number of homes for sale in Denver is at 14.9% the average amount for the end of February. This historically low amount is causing listings to sell in a median of five days, compared to 15 days a year ago.
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U.S. Real Estate News Recap: January 2021
Here’s a quick digest of what happened in U.S. real estate last month:
+ Colorado placed in the top 10 states people moved to during 2020, as ranked by U-Haul’s report of 1-way moves.
+ Pros predict that some of the next renovation trends will include a move away from open-concept living, a focus on outdoor space, and a rise in ADUs.
+ Whether you’re buying, selling, or staying put, Dave Ramsey offers his take on how the housing market will shake out in 2021.
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Denver Real Estate News Recap: January 2021
Here’s a quick digest of what happened in Denver real estate last month:
+ 56% of economists think the Denver housing market will outperform the national average this year, hoisting our city to one of the top five hottest markets for 2021.
+ Some local economists believe the Denver housing market is running out of gas. They said, “while new home sales should match the pace of 2020, existing-home sales this year will fall and price increases in the months ahead will be more subdued.”
+ Our opinion? 2021 is likely going to be a fast-paced, appreciating market on all fronts.
+ Denver is the third hottest market for millennial homebuyers, ranking behind only San Jose and Boston. A whopping 59% of all Denver-area homebuyers in 2020 were from Gen Y.
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Real Estate Finance News Recap: January 2021
Here’s a quick digest of what happened in real estate finance last month:
+ Freddie Mac forecasts moderate house price growth of 0.7-1.3% in 2021-2022 with mortgage rates expected to average around 2.9% until year-end.
+ The difference between second homes and investment properties is important when it comes to financing. Sarah Kuta of Realtor.com explains why it matters and how to keep yourself aboveboard.
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U.S. Real Estate News Recap: December 2020
Happy New Year! Here’s a quick digest of what happened in U.S. real estate last month:
+ 27 experts give their take on what the housing market will be like in 2021. Hint… most think prices will continue to climb.
+ Across the country, Generation Z will spending roughly $226,000 on rent before they can own a home, more than any previous generation. In Denver, this number balloons to $320,300. Time to capitalize on low interest rates, if you can!
+ The Case-Shiller U.S. National Home Price Index is showing that home prices have risen 8.4% in the last year, nationwide.
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Denver Real Estate News Recap: December 2020
Happy New Year! Here’s a quick digest of what happened in Denver real estate last month:
+ Renofi is projecting that the average price of a home in Colorado will reach $763,309 by 2030, making us the 4th most expensive state after California, Hawaii, and Washington.
+ Denver ranks 8th in cities with the highest inflow of new residents during the pandemic.
+ Local restaurant owner Josh Wolkon shares how you can help save local restaurants.
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Real Estate Finance News Recap: December 2020
Happy New Year! Here’s a quick digest of what happened in real estate finance last month:
+ Mortgage rates continue to remain near record lows at 2.67%, down from 3.72% a year ago.
+ Not looking to move, but wondering if it’s worthwhile to refinance? Check out Nerd Wallet’s refinance calculator to find how much you can save each month.
+ Forbearances rose for the third consecutive week, as roughly 2.83 million homeowners are currently suspending mortgage payments. Fannie and Freddie announced that multifamily property owners with existing forbearance agreements can extend their agreements for up to three months.
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