As real estate prices keep rising around the country, causing some industry watchers to talk nervously about the potential for a housing bubble, the Fort Collins-Loveland metro area is impressing national observers as a pillar of market stability.
In a new report by Realtor.com, the Fort Collins-Loveland market – which reflects all of Larimer County – ranked No. 1 on the organization’s list of “Top 10 Stable, Growing Markets.” The report, which quotes The Group Inc. founder Larry Kendall, lauds the economic diversity and relative affordability (the median housing price here is 40 percent less than in Boulder) for the Fort Collins area.
The Group believes Fort Collins-Loveland measures up well in most of the nine criteria used to determine stability, including price appreciation – “positive, but not out of control” – whether local home construction has recovered from the recession, a low foreclosure rate, and low unemployment rate.
Kendall told Realtor.com, “Largely due to its diverse economy, the Fort Collins market has been extremely stable. During the recession, our home prices didn’t fall nearly as much as the rest of the country.” The Group research reveals that specifically, while prices across the U.S. fell by an average of 34 percent during the Great Recession, local prices slipped just 3.89 percent, according to the Federal Housing Finance Authority.
Realtor.com sought out Kendall for his insights after learning about his new book “Ninja Selling,” a top-selling business book that Kendall released early this year.
The Realtor.com list features communities from across the country, with an accent on college towns and state capitol cities. After Fort Collins-Loveland, Realtor.com ranked Madison, WI, No. 2, followed by Durham, NC.; Honolulu, HI; Greenville, SC; Ann Arbor, MI; Manchester, NH; Salem, OR; Oklahoma City, OK, and San Antonio, TX.
Read the article and view the map at http://www.realtor.com/news/trends/top-10-stable-housing-markets/
The Group, Inc., was founded in 1976 and is an independent, 100% employee-owned company based in Fort Collins. It has six locations, 230 partners and is involved in more annual real estate transactions in Northern Colorado than any other organization. www.thegroupinc.com.