David Richins | The Richins Homes Team | Douglas County Colorado Community News
 Colorado continues to show signs of life as the market, stimulus and consumer spending starts to loosen. As we look to the summer months a few things to keep your eye on. First the banks stress test has been made public showing that there is still going to be some big losses or help needed. Second, credit is loosening little by little, but jobs are also still going pretty negative. Third and finally I have noticed that gas prices have begun to head back up and that is never a good thing for the market and consumer. After all if you can’t afford to drive anywhere why would you buy anything. These are factors and signs that are on the edge and still could go either way. However, I think that with pent up demand and consumers watching everything and really starting to make it known to there government that those who are in power will have to soften. If not we will stay locked up despite what the media says.

Category Apr-08 Apr-09 % Change
#Of Closed Sales – Month 3,353 2,706 -19.30%
#Of Closed Sales – YTD 10,997 9,247 -15.90%
Avg. Days On Market 103 102 -1.00%
# Of Active Listings 20,054 15,639 -22.00%
# Of NEW Listings 9,273 6,736 -27.40%
Absorption Rate (in months) 5.8 5.8 -1.00%
Average Price (Sold) 267,259 254,442 -4.80%

Overall residential sold activity was down 19% in April and 15% year to date. I’m predicting an increase in residential closings for 2nd half of 2009 fueled by first time home buyer credit and very low interest rates. One factor to watch closely is inventory levels, down 22%. This is huge as we work are way back to a sustained Real Estate market.

Leave a comment

Name: (Required)

eMail: (Required)

Website:

Comment:

 

About David Richins

Growing up in a business atmosphere David Richins has learned of the many aspects of Customer Service. David formed his dreams and ideals of homes and design from studying computer aided drafting and design in college. This led David to the world of Real Estate. Having lived both in the city and the country, David understands how to work with everything from the simplest of condos to multi-million dollar estates in the Colorado real estate world.