Fun Fact Friday 💼 11/10/2023

Hey Friends,
I’ve got 6 fun facts and 1 quote to share with you today. We will start high level & zoomed out, then zoom in to my local market (Colorado Springs), then end by zooming out again. Thanks for reading, and reach out anytime with questions!

Blessings,
Andrew

Fun Fact 1:
WeWork has filed for bankruptcy in U.S., Canada. Once valued at $47B, the stock was -99.8% from its 2021 high, before being halted.

Source: Google Finance, Bay Area Times

---

Fun Fact 2:
The number of US employees in the mortgage industry has moved down to 337k from a peak of 420k in 2021, a 20% decline. The average monthly pay for loan officers is less than half of what it was three years ago, with production down 58% (average loan officer closed 3.45 loans last month versus 8.15 in the same month in 2020).

Source: Mortgage Bankers Association, Bureau of Labor Statistics, nCino via Charlie Bilello

---

Fun Fact 3:
In Colorado Springs, the total homes in “Under Contract” status totaled 1,206. This is down over 50% from the peak of 2020, but not too far off from last year.

Source: RSC, PPAR

---

Fun Fact 4:
In Colorado Springs, we had 851 home sales for October, compared to 1,100 in October of last year and 1,641 in October of 2021.

Source: RSC, PPAR

---

Fun Fact 5:
In Colorado Springs, the average days listed was 45, up from 32 at this time last year.

Source: RSC, PPAR

Commentary: Clearly the market is not “gangbusters”. In real estate, I have learned that in each market, there is always a trade off.  Today, if you an afford the higher interest rates and maintain payments on them until you have the chance to refinance, it is a good time to purchase because 1) you have more time to make a decision and 2) sellers are reasonable since they most likely have to sell right now if their home is listed.

---

Fun Fact 6:
A record 447,000 Americans are now working 2 full-time jobs.

Source: Joe Consorti, Unusual_Whales

---

Quote I’m pondering:

“In three words I can sum up everything I’ve learned about life: it goes on.” – Robert Frost

 

 

Thanks again for reading. Subscribe HERE to get this delivered to your inbox so you never miss a read.

 

 

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.