Updated 2012 Economic Outlook in the Broomfield/Westminster Areas!

 Westminster, CO -  How is the 2012 Economic Outlook in your areas?   Here is what we are finding in the Broomfield / Westminster areas of our office location.

For Broomfield/Westminster, single family homes sales are UP 15.46% YTD through

October/2012 when compared to through October/2011.   

Active listings for single family homes were down approximately 23% at

the end of October/2012 when compared to the end of October/2011 (782 vs. 1,019) and down

approximately 50% when compared to the end of October/2010 (782 vs. 1,570).

The Absorption Rate (the length of time it takes for the market to fully turn, assuming a

continued level of sales activity and no new inventory coming into the market) stands at 70 days

YTD at the end of October/2012 for single family homes in Broomfield/Westminster. The

Absorption Rate for single family homes at the end of October/2011 for Broomfield/

Westminster was 105 days. On average single family homes are selling 33% quicker thus far this

year than they did last year.

(Statistics courtesy of MetroList – Denver Metro MLS)

View Broomfield / Westminster Areas! in a larger map

Look for the Broomfield/Westminster real estate market to continue its customary path this fall as sales activity and inventory levels decline through the balance of the year.

Home mortgage interest rates should remain around 3.25% to 3.5% for the traditional thirty-year fixed-rate
loan.

New home construction will continue to increase across the Denver Metro area, Boulder Valley, and Northern Colorado as new subdivisions come on-line and in-fill projects are built out.

As noted by the chart above, home values have increased over the past year in Broomfield/Westminster. With the increase in sales activity and decrease in available inventory … scarcity will create demand!!

© 2012 RE/MAX Alliance. All rights reserved.

Thanks for reading this,  Dan Hopper.

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Dan Hopper specializes in assisting home owners to avoid Foreclosure in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.

Thank you for reading, "2012 Economic Outlook in the Broomfield / Westminster, CO Areas!"