Fun Fact Friday 🪚 7/12/2024

fun fact friday

Hey Friends,
I have 5 fun facts to share with you today. We will start zoomed in with the Colorado Springs market and then zoom out for a few national fun facts.  As always, my weekly quote to ponder awaits you below. Have a great weekend!

Blessings,
Andrew

Fun Fact 1:
Listings (Active Supply) were up in June 5.6% when compared to last month and jumped by 29.5% when compared to last year at this time. (Last month saw 2,405 active listings.)

Source: Land Title Guarantee Company

Andrew Bacon Top Colorado Springs Realtor


Fun Fact 2:
June listings saw 27 days on market, on average. This was equal to last month and up 50.0% compared to last year at this time when we saw 18 days on average.

Source: Land Title Guarantee Company

Andrew Bacon Top Colorado Springs Realtor


Fun Fact 3:
The percent-of-the-closed-price-to-list-price for June came in at 99.6%.This data point was down 0.4% compared to what we saw last month and last year at this time. Clearly, sellers still are very unwilling to come off their list price by much and reminder: Pricing is everything.

Source: Land Title Guarantee Company

Andrew Bacon Top Colorado Springs Realtor


Fun Fact 4:
There has been a sharp decline in construction and land development loans. (The reason might be found in the next fun fact.)

Source: Eric Basmajian @EPBResearch

Andrew Bacon Top Colorado Springs Realtor


Fun Fact 5:
US new home inventory awaiting a buyer surged to 99,000, the highest level since 2009. In just 2 years the number of these homes has DOUBLED. This comes after single-family homes available for sale increased to 481,000 in May, the highest in 16 years.  As a result, it would take 9.3 months to dispose of the total inventory at the current sale pace, the most since 2022.  This means that the number of potential homebuyers waiting for lower prices is rising.

Source: The Kobeissi Letter @KobeissiLetter

Andrew Bacon Top Colorado Springs Realtor


Quote I’m pondering:

It will be of little avail to the people, that the laws are made by men of their own choice, if the laws be so voluminous that they cannot be read, or so incoherent that they cannot be understood.” – James Madison

 

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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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