A quick market update for buyers, sellers and investors in Boulder Valley real estate.
JUNE 2016
Rich's Boulder Valley Real Estate Report
Trends I'm Seeing
I get many questions about what's driving Boulder County's very hot real estate market. One reason is people are choosing to move here in large numbers. Based on tax return data compiled by the IRS, Colorado tops all 50 states as the location of choice for people who relocate. The state's population increased 1.9 percent between July 2014 and July 2015 (more than twice the US population growth rate of 0.8%). During that 12-month period, the state added 101,000 people, with net migration representing two-thirds of that total.  On top of that, nearly two-thirds of those who move to Colorado settle in the Denver-Boulder metro area, according to the Denver Post. Our robust job market is a key driver (more on that below). 

Just a few thoughts. Please call me anytime with yours.
Best, Rich 3 03-931-6979
Area Home Sales
Colorado job growth forecast is up
Job growth drives the housing market, and growth in our region will continue to hum, according to the Forbes 2016 annual Best U.S. Cities for Job Growth report. The publication ranked our region (Denver-Aurora-Lakewood) #7 overall, driven largely by expected growth in the tech sector. The "twin capitals" of the tech industry took the top spots, with San Francisco at number one, and nearby Santa Clara-San Jose at number two. But the high cost of housing in both metros have some companies there seeking more affordable locations. Denver-metro housing prices may seem high, but our prices are considerably less than the California metros and some others in the top 10.
 
Forbes 2016 Top 10 U.S. Cities for Jobs


Using employment data from the Bureau of Labor Statistics from 2004 through 2015, Forbes rankings are based on recent, mid-term and long-term growth trends.
Interest Rates
  • 30 year fixed conforming 3.625%
  • 5/1 ARM conforming 3.0%
  • 7/1 ARM conforming 3.25%
  • 15 year fixed 3.0%
  • 30 year fixed jumbo 4.0%
  • 5/1 ARM jumbo 3.25%
  • 7/1 ARM jumbo 3.375%
Rates provided by Calvin Cox at Commerce Mortgage at 303-931-8360.
Friends & Family
I appreciate your referrals and promise to provide excellent service that will make us both look good.  Feel free to forward this e-newsletter or my contact details to anyone interested in Boulder Valley real estate. Thank you.

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Rich Gribbon | RE/MAX of Boulder
303-931-6979 | RichGribbon@BoulderCO.com