Fun Fact Friday 🛰️ 10/27/2023

Fun Fact Friday with Andrew Bacon

Hey Friends,
I’ve got 4 fun facts and 1 quote to share with you today. Thanks for reading, and reach out anytime with questions!


Fun Fact 1:
26% of household wealth is held by Americans who are 70 years and older.

Andrew Bacon Top Colorado Springs Realtor

Source: Unusual Whales, Federal Reserve Board of Governors

Fun Fact 2:
The housing market is becoming increasingly frozen, with fewer existing homes selling today than at any point since 2010. The 3.96 million annual rate is even below the lowest level of sales during the 2020 covid shutdowns (4.01 million).

Andrew Bacon Top Colorado Springs Realtor

Source: Charlie Bilello

Fun Fact 3:
Even with the market in a state of freeze, the median asking price for homes is up 5%.

Andrew Bacon Top Colorado Springs Realtor

Source: Redfin

Commentary: Why are prices still elevated? A lack of available supply. Many existing homeowners with low mortgage rates are simply not selling, both due to choice (they don’t want to give up their low mortgage rate) and necessity (they couldn’t afford to purchase the same home they are living in at current rates/prices). The result: fewer existing homes are for sale today (1.13 million) than any other September on record (note: data goes back to 1999).

Fun Fact 4:
Who owns the most satellites?

Andrew Bacon Top Colorado Springs Realtor

Source: Visual Capitalist

Quote I’m pondering:

“By failing to prepare, you are preparing to fail.” – Benjamin Franklin



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Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.

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