How has COVID-19 impacted the Broomfield Real Estate Market? The June edition of the Broomfield Real Estate Market Report examines these stats and more.
Broomfield Real Estate Market Report | June 2020
It is a pleasure to share my Broomfield residential real estate market report for June 2020 with you. This report, which is based on extensive personal research, offers you the opportunity to examine the 2020 market trends and relevant sales statistics and to explore what is happening in your neighborhood’s micro market. I hope you will enjoy this report and find it both useful and enlightening.
With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery will start to happen in the second half of this year. As we get back to work and the financial landscape of the country begins to turn around, many experts also agree that real estate has the potential to lead the way in the recovery process.
According to Ivy Zelman of Zelman & Associates:
“Housing will fare better than expected during this severe downturn.”
In addition, CNBC notes:
“Mortgage demand from home buyers shows unexpectedly strong and quick recovery…The quick recovery has surprised most forecasters.”
Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy of the National Association of Home Builders (NAHB) says:
“Overall, the data lend evidence to the NAHB forecast that housing will be a leading sector in an eventual economic recovery.”
One of the big reasons why housing has the potential to be such a driving force is the significant impact it has on the local economy. This impact is particularly strong when a newly constructed home is built and sold. According to a recent study by the National Association of Realtors (NAR), the average new home sale has a total economic impact of $88,416. As outlined in the graphic below, this is a combination of income generated from real estate industries, expenditures, and new home construction.
With so many unknowns today, especially in the wake of a worldwide pandemic, one known factor is the bright spark the housing market can play in local and national recovery. Buying and selling a home goes well beyond personal growth and satisfaction – it supports our economy as a whole.
According to experts, the economy will begin to recover in the second half of this year. With real estate as a driver, that recovery may start sooner than we think.
I am proud to live in Broomfield and to serve our community. If you are considering selling your home or thinking of buying one, I would be grateful for the opportunity to earn your business.
Thank you again and enjoy the June edition of the Broomfield Real Estate Market Report. If you have any questions about an area or your home specifically I am always here to help.
Broomfield Real Estate Market Report | June 2020
Below is a link to the full version of my monthly market report for Broomfield. In addition to the information above you will find micro market information on the following neighborhoods:
- Anthem Highlands
- Anthem Ranch
- Aspen Creek
- Country Estates
- Lambertson Farms
- McKay Landing
- Spruce Meadows
- The Broadlands
Don’t see your neighborhood on the report? Contact me today and I will prepare a similar report about the market activity in your neighborhood and include it in all future months of the Broomfield Real Estate Market Report.
Helping You Make Informed Decisions Regarding Broomfield Real Estate
I hope to help YOU make sense of the numbers so you can make informed decision. It is my hope that this report helps you to ”See the Big Picture and All the Details!”
If you see a segment of the market that you would like additional help with understanding please contact me. Or if you desire a specific Property Valuation Report that I routinely prepare for my clients, please contact me.
This report covers Broomfield Single Family Homes and Broomfield Luxury Homes.
See the big picture and all the details of the Broomfield Real Estate Market and more –> Download the full market report as well as find more valuable information about Broomfield Real Estate here.
How can I help you with your Broomfield, CO Real Estate Needs?
This Broomfield Real Estate Market Report and the level of detail is representative of what you can expect from me as your Real Estate Agent.
I am a Colorado native and Broomfield resident with years of local knowledge and insight to help meet your needs, and I strive to exceed client expectations.
You May Be Wondering… What is My Home Worth?
Do you wonder what your home is worth in the current market? Do you desire a specific Property Valuation Report that I routinely prepare for my clients? Please contact me.
If you are considering buying or selling a home, I would appreciate the opportunity to earn your business (or that of a friend you think I could help).
For questions regarding this Broomfield Real Estate Market Report or the Broomfield Real Estate Market in general contact:
Real Estate Professional | Certified Real Estate Negotiation Expert
Coldwell Banker Ref Real Estate