Summer is in full swing, and the real estate market in Northern Colorado continues to sizzle! As your trusted realtors, the Angie Spangler Team is here to keep you informed about the latest developments, market trends, and exciting opportunities in our region. In this month’s newsletter, we have some fantastic updates to share with you.

📈 Market Update 📈
It is still a good time to sell and buy. We don’t anticipate prices going down any time soon. Interest rates are still higher than in past years and hovering at 6.5% for a 30-year conventional fixed-interest loan on a single-family residential home. We continue to see a lack of inventory in the market in all price points but it has slowed slightly and we aren’t seeing the multiple offers and competition as we have in thepast years.

New Listings were down 6.1 percent for single-family homes and 8.3 percent for townhouse-condo properties. Pending Sales landed at 204 for single-family homes and 74 for townhouse-condo properties. The Median Sales Price was down 5.0 percent to $595,000 for single-family homes and 2.0 percent to $415,000 for townhouse-condo properties. Days on Market increased 51.4 percent for single-family homes and 64.9 percent for townhouse-condo properties.
While fluctuating interest rates have pushed some buyers to the sidelines, a shortage of inventory is also to blame for lower-than-average home sales this time of year, as current homeowners, many of whom locked in mortgage rates several percentage points below today’s current rates, are delaying the decision to sell until market conditions improve. With only 2.9 months’ supply heading into May, available homes are moving fast, with the typical home spending just over three weeks on the market, according to NAR. Source Fort Collins Boardof Realtors

If you’re contemplating buying a home this year, we’re here to remind you of the incredible long-term benefits that come with homeownership. 🌱🏡
Owning a home is more than just having a roof over your head—it’s a rewarding investment that opens doors to a world of advantages. Here are a few reasons to consider:
1️⃣ Building Equity: Instead of paying rent and having nothing to show for it, homeownership allows you to build equity over time. With each mortgage payment, you’re one step closer to owning an asset that can appreciate in value, providing financial stability and potential future gains.

2️⃣ Customization and Personalization: Unlike renting, homeownership gives you the freedom to customize and personalize your space to match your unique style and needs. From painting the walls your favorite color to creating a dream backyard oasis, the possibilities are endless.

3️⃣ Stability and Community: Buying a home often provides a sense of stability, allowing you to establish roots in a community and build long-lasting relationships with neighbors. Plus, having a place to call your own offers a comforting sense of belonging and security for you and your loved ones.

4️⃣ Tax Benefits: Homeownership comes with potential tax advantages, such as deducting mortgage interest and property taxes, which can help reduce your overall tax burden. Be sure to consult with a tax professional to understand the specific benefits available to you.

5️⃣ Future Generational Wealth: Investing in a home can lay the foundation for future generational wealth. By building equity and owning a valuable asset, you have the potential to create a legacy that can benefit your family for yearsto come.

So, as you embark on your homebuying journey, remember to factor in these long-term benefits of homeownership. Our dedicated team is here to guide you every step of the way, ensuring you find the perfect home that not only meets your current needs but also aligns with your long-term goals.