Millennials Striking Out on Their Own (Born 1980 1995)

Household formation could soon be turning a corner, if young adults living with their parents started moving out to form their own households, according to a client note from Capital Economics. Household growth has been abnormally low at about a half a million since 2008. But growth is estimated to have risen to 1.7 million in 2014, up from 400,000 in 2014, according to the Census Bureau's latest Homeownership & Vacancy Survey.


 Read article - Realtor Magazine


Comments

Post a Comment

Popular posts from this blog

Hail-Resistant Roofs: Fact or Fiction?

Image
Colorado often experiences severe  hailstorms  that can cause devastating property damage. The Rocky Mountain Insurance Information Association reports that Colorado’s Front Range and Wyoming’s eastern plains, commonly referred to as “hail alley,” receive the highest frequency of large hailstones in North America. Over the past 10 years, hailstorms have caused nearly $1.7 billion in damage to roofs and automobiles in hail alley. The damaging hailstorms generally occur mid-May through late July. Damages incurred to roofs during hailstorms can, however, be reduced with proper roof design and roofing product selection. A properly designed roof structure can substantially reduce hail damage. Several testing agencies have developed the following recommendations for the roof designer: Shingles made with polymer-modified (SBS) asphalt have better resistance to hail damage than shingles made from oxidized asphalt. Reroofing over an existing shingle system greatly increases the ...
Read more

Age of Home Buyers

The typical home buyer for the United States and the West region have something in common, the average age is 39 years old. The highest percentage of buyers in the U.S. is in the 25-34 year range. See the chart below about buyers who purchased a home in 2007 AGE All Buyers The West Including Colorado 18-24 5% 5% 25-34 30% 31% 35-44 24% 25% 45-54 19% 18% 55-64 15% 13% 65-74 5% 6% 75 + 2% 2% Median Age 39 Y.O. 39 Y.O. Information Provided by the National Association of Realtors in 2007
Read more

Centennial - Piney Creek January to March 2008 single family home sales report

7 residential closings up 700% over the same period in 2007. Absorption Rate is ok at 9.0 months. Its not possible to determine any kind of trend since the first three months of 2007 only saw one sale. but it is very encouraging that the sales are off the roof during the same period in 08. Also checkout the average sales price. Jan - March 2007 Jan - March 2008 % Change # of sales closed 1 7 700% # of sales Closed - YTD 1 7 700% Avg Days on Market 229 136 -59% # of Active Listings - 21 - Absorption Rate (months) - 9.0 - Average $ per SqFt 105 148 141% Average Price (Sold) 406,800 622,314 153% Click here for active homes for sale in Piney Creek Absorption Rate Definition Disclaimer - the information and commentary provided in this Blog are opinions of Homes And People and should be used for informational purposes only. All sales data is from the MLS and the information is deemed reliable but not guaranteed.
Read more

WHY TITLE INSURANCE?

A GUIDE TO UNDERSTANDING THE NEED AND THE VALUE It is vitally important for prospective homebuyers to thoroughly understand the process of purchasing a home and the potential risks associated with the property’s title. Most people don’t realize that the current owners of their prospective home - and their family and heirs — have extremely strong rights associated with the property. In addition, third parties may have liens against the title for anything from unpaid child support to outstanding parking tickets! In fact, it takes very little effort to place a lien on a property, but it can take a great deal of time and money to have it removed. What does title insurance cover? Once the title search has been concluded and curative work to resolve any issues has been completed, title insurance can then be issued. The title insurance policy protects policy owners against covered financial losses associated with claims against the title that were not discovered during the title search pro...
Read more

Colorado ranked #1 in the country in January for home sale appreciation

Image
Sales Price Increases by 37% for Homes over 1M, 17% For Condos and  9.6% for SF Homes February  2015 Residential Market Report (Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert & Jefferson Counties) Click here  for the complete report. Highlights for February 2015 * Single Family Detached homes units sold: down 3.1% from prior year (2016 units) * Average Sold price on SFD’s: Up 9.6% from prior year ($383,676 this year) * Days on market for SFD’s: 42 days for February 2015 * Condo/Townhome sales: Up 7.9% from prior year (843 units) * Average Sold price for Condo/Townhome: Up 17.6% from prior year ($249,183 this year) * Days on market for Condo/Townhome :  47.5 days for February 2015.
Read more