Wednesday, October 23, 2013

Pulse of the Market

Here's the latest edition of our look at new listings that go into contract within 14 days.

We use this statistic go help confirm our own observations and anecdotal evidence about whether the market is heating up or slowing down.  It gets us much closer to the point of decision making than most other statistics, including our own, that rely on sales prices that only become available after the property closes escrow.  In a normal market the decisions about offer and acceptance are made as much as six to eight weeks before the sales price is reported.

Wednesday, October 16, 2013

Interest Rates and Purchasing Power

"For every 1% rise in interest rates, home prices must fall by 10% in order for you to maintain the same monthly mortgage payment. And at the end of the day, that's what matters, the monthly payment. So take advantage of low rates; they add much more buying power to your purchase than low prices."

Dave Ness of Denver's Thrive Real Estate Group