December 2014

Found 11 blog entries for December 2014.

By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report .

Mortgage interest rates increased slightly this past week as the Fed indicated at the conclusion of its FOMC meeting that it would be patient about when it decides to increase rates.  Economic data was mixed.  Economic data stronger than expected included November Industrial Production, November Capacity Utilization, and weekly jobless claims.  Industrial Production increased the most since May of 2010.  Economic data weaker than expected included the December New York Empire State Manufacturing Index, the December NAHB Housing Market Index, November Housing Starts, November Building Permits, and the December Philadelphia Fed Business Index.  Inflation data

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The Boulder-area home month-to-month data continues to reflect the effects of low inventory and an economy that’s still finding its footing, but it is performing better than many other markets nationwide, according to Ken Hotard, vice president of public affairs for the Boulder Area Realtor® Association.

“I think the market did exactly what we expected it would do last month,” he says.

The number of single-family homes that sold in November – 261 – was just one or 0.38 percent less the number of homes that sold in November 2013. However, that figure was a 15.5 percent decrease from the 309 units that sold in October.

The sale of 108 condominiums and townhomes in November represented a 27 percent jump compared with the 85 units that sold a year

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According to the Colorado Association of Realtors®, the sale of a home has no small impact on the economy.

Here’s an economic breakdown of the impact a Colorado existing home with a median price of $253,300 has:

$67,310: The total income derived from the sale;

$21,177:  Income generated from real estate-related industries;

$12,291: The estimated multiplier impact via spending at restaurants, sports games, charitable events, etc.

$4,429: The amount spent on consumer items such as furniture, appliances and paint service;

$44,259 million: How much of the Gross State Product attributed to Colorado’s real estate industry – or 16.3 percent – in 2012.

The association reports that, typically, one new home is built for each existing home sale,

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Local economists are expecting Colorado’s economy keep growing in 2015 after having the highest employment increase since the start of the century in 2014.

That’s according to the information released by the University of Colorado Boulder’s Leeds School of Business’s prior to its 50th annual Colorado Business Economic Outlook Forum earlier this month.

The gain of 61,300 jobs will cover every business sector – except the information industry – in 2015, says Richard Wobbekind, economist and Leeds School senior associate dean for academic programs.

“Not only is the state’s economy solidly in positive territory, but it is ranking in the top five nationally for population growth, employment growth, wage and salary growth and personal income growth,”

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report.

Mortgage interest rates improved this past week as crude oil prices fell.  Falling crude oil prices indicate a softening global economy and reduced inflation concerns.  In India, the current- account deficit widened more than expected.  In Japan, the economy contracted 1.9% in the third quarter.  In China, both imports and exports fell short of expectations in November.  China will add $65 billion to its banking system to stimulate lending and its economy.  Economic data in the U.S. was mostly stronger than expected.  Economic data stronger than expected included October Wholesale Inventories, the October JOLTS Job Openings report, weekly jobless claims, November

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1.        1140 Portland Place #1, Boulder               OPEN SATURDAY 1 – 3 PM 

2.       4893 Country Club Way, Boulder               OPEN SUNDAY 11 AM – 2 PM     

3.       7273 Dry Creek Rd., Niwot                        OPEN SATURDAY 1 – 3 PM     

4.       11708 Quitman Street, Westminster          OPEN SATURDAY 1 – 3 PM     

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By Jessica Shanahan, Premier Lending LLC adapted from the Shirmeyer Rate Market Report.

Mortgage interest rates increased this past week as today’s employment report for November was much stronger than anticipated.  November Non-Farm Payrolls increased by 321k on expectations that they would increase by 230k.  September and October Non-Farm Payrolls were revised upward as well.  Private Payrolls increased by 314k on expectations that they would increase by 225k.  Average hourly earnings increased 0.4% on expectations that they would increase by 0.2%.  This the biggest jump in earnings since June 2013.  The unemployment rate held steady at 5.8%.  Other economic data stronger than expected included the November ISM Manufacturing Index, October

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According to the Federal Housing Finance Agency (FHFA), Colorado is the 8th strongest state in terms of price appreciation over the last year as of the end of the 3rd Quarter at just under 7% compared with the national average of 4.55%.  During this same time period, the Boulder MSA which is all of Boulder County, is ranked 62 out of 276 MSA’s with an annual appreciation of 8.35% for that same period.  According to the Metro Denver Economic Development Council, Colorado has enjoyed the fifth largest employment growth of any state during the economic recovery of 2009-2013.  Again, this points to job security and demand for housing which demonstrates that our strong housing market should continue throughout 2015 and beyond.

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1.        1918 Pearl Street, Boulder          OPEN SUNDAY 12 – 2 PM  

2.       1001 Treece Street, Louisville      OPEN SUNDAY 11 AM – 2 PM     

3.       2548 Sweetwater Circle, Lafayette   OPEN SUNDAY 11 AM - 2 PM

4.       22 Benthaven Place, Boulder       OPEN SUNDAY 12 - 2 PM 

5.       3960 Arbol Court, Boulder           OPEN SUNDAY 1 – 3 PM   

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