30 day report — PPAR region
Here’s a quick look at where we stand right now for the last 30 days in the PPAR region. The big takeaways right now are:
May 2023 YoY average price down 3.49%
The average price for May 2023 was down 3.49% from May 2022 in the Pikes Peak region. What you see below is the year over year gain / loss since 1996. This is the first down May since 2014.
Interest rates, M2 and Median Pricing in the PPAR region
The relationships between variables that impact the market is fascinating to me (I am, admittedly, a bit of a data nerd). What you see here is the interplay between the M2 money supply, median pricing and the 30 year mortgage interest rates since 1996. TLDR; if you want to know where home prices are going, […]
May 2023 sales down 32.1% from 2022
As we enter into the last week of May 2023, we are tracking at 67.9% of last year’s sales numbers for the same period of time (May 1st through 24th). It’s likely we will close at 2013 – 2014 levels. We are also selling about -3.35% for average home prices. I honestly expected a bigger […]
10 YR Sales #’s / Avg Prices PPAR Region
Here’s a look at the last ten years in the Colorado Springs region. What you see here is a look at the number of sales and the average pricing over that same period. We are tracking around 2015 levels of activity right now.
Five Years of Sales in the Region
Here’s a quick look at the last five years worth of sales in the region. This is the month to month number of sales for the last 60 months. It’s a rough year for agents, sellers and lenders. Buyers, too, though those that can afford to buy have a lot more choice. Here is the […]
A Tale of Aprils
April 2023 has seen the largest drop in number of sales since at least 1996. We are tracking about 35.8% down from last April. The price drop from last year is -5.59%. This begs the question…why aren’t prices falling? Inventory. The low inventory is helping hold the floor against price drops. What’s next? All things […]
What if Covid didn’t happen?
I’ve been curious for a bit about what pricing might have looked like had the pandemic not hit. As you probably know, the Fed injected trillions of dollars into the economy over the years since Corona. This is in addition to the trillions injected in multiple waves of Quantitative Easing from 2008 through 2014. What […]
PPAR Region State of the Market
We are closing for the month of March 2023 at an average of 501K with 46.86 days on the market. Homes are closing on the average at 3.1% below original list price. Sales are down 29.2% from this time last year and we have 1.53 months worth of homes on the market. Data extrapolated from […]