Original post found here: The Group Annual Forecast
LOOKING BACK ON THE YEAR IN REAL ESTATE
2024 threw some curveballs, but we also witnessed new opportunities for residential real estate in the Northern Colorado Region. Our region once again proved to be an incredibly resilient housing market. Our regional market saw home sales increase year over year by 3.3%, and the median price of single family homes for all areas combined grew by 3% annually.
MORTGAGE RATE ROLLER COASTER
The 2024 housing market experienced a rollercoaster of mortgage rates, bookended by 7% rates early in the year, 6% in September, and 7% again in the late fourth quarter. These fluctuations kept many homeowners “rate locked,” reluctant to part with the low-interest mortgages they secured in prior years. However, many first-time and repeat buyers found opportunity in the heightened rate environment to take advantage of new construction rate incentives, obtaining a much more favorable interest rate from builders, making their transaction possible in 2024.
AFFORDABILITY CHALLENGES CONFRONT ADDITIONAL HURDLES
Record home prices and continuing constraints on inventory continued to challenge home affordability in 2024. But mortgage rates weren’t the only culprits; increasing property taxes and insurance premiums also created additional hurdles. To address growing affordability concerns and increase the supply of housing, the state government and local municipalities have worked to redefine land-use and zoning laws. It is important to recognize that while our affordability challenges are present, they do not impact the entirety of the market. One-third of homeowners nationally in the U.S. own their property free and clear. As a result, we have seen the number of all-cash purchases increasing, both regionally and nationally. Nationally, 30% of transactions in 2024 were all-cash, and the majority of our regional markets experienced their highest percentage of all-cash transactions on record.
TRANSITIONAL MARKET
By definition the market still remains a “Seller’s Market,” however, the tables have turned to be more favorable to buyers in 2024. Buyers can capitalize on seller incentives, builder incentives, and less competition compared to prior years. As demographics change and the median age of communities gets older, we see a growing pent-up demand for area housing, which has kept the housing market stable during a more challenging market.
DEVELOPMENT SURGES AHEAD 2024 YEAR IN REVIEW
The I-25 project continues with the expansion of the express lanes between Berthoud (Highway 56) and Mead (Highway 66), which are slated to be complete by 2028. This improvement to I-25 has brought a great deal of growth to the region in both commercial and residential real estate, concentrated between the Highway 34 and Highway 56 interchanges. While you may not see the rooftops yet, several Master Planned developments will reshape the areas in the future.
2025 STRATEGIC VISION
Since our founding in 1976, The Group has proudly set the benchmark for professionalism, innovation, and locally focused real estate expertise in Northern Colorado. As we turn the page to 2025, our commitment to providing world-class service from a locally owned and operated brokerage remains steadfast – and our vision for strategic growth continues to thrive. Over the past several years, we’ve made bold moves to expand our footprint while staying rooted in the communities we know and love. In 2021 we opened our Timnath office to meet the needs of the vibrant neighborhoods east of I-25. In 2022 we extended our reach west into the Yampa Valley by acquiring Colorado Group Realty in Steamboat Springs. In 2024 we took the next step forward, solidifying our presence in Weld County by opening office space to serve the rapidly growing areas of Windsor and Greeley.
EXPANDING INTO WELD COUNTY: A THRIVING MARKET
This year we’re thrilled to announce the purchase of our new office in Greeley. Weld County — one of the fastest-growing regions in Colorado — presents an incredible opportunity to deepen our impact and better serve Northern Colorado. This expansion reflects our dedication to meeting the evolving needs of homeowners and buyers in these dynamic markets. With a thriving economy, a strong sense of community, and beautiful neighborhoods, Weld County is a natural fit for The Group’s mission to connect people with the places they love. Our new Greeley office is positioned to deliver unmatched local expertise, state-of-the-art technology, and exceptional service — all hallmarks of our reputation since 1976.
LOCAL SERVICE, NATIONAL STANDARDS
As we grow, our commitment to simplicity, service, and trust remains at the core of what we do. Whether you’re buying your first home, upgrading for a growing family, or seeking investment opportunities, we offer streamlined solutions and unparalleled guidance through every step of the process. Our family of affiliated businesses — including mortgage lending, title insurance, property management, and property and casualty insurance — ensures that The Group continues to be a convenient, one-stop resource for all things real estate.
WHAT’S AHEAD FOR 2025 While our expansion into Weld County is a highlight of our growth strategy, we are equally focused on staying deeply connected to our traditional service areas. With offices in Fort Collins, Loveland, Timnath, Windsor, and Steamboat Springs, we are proud to balance growth with strong ties to our local communities. In 2025 we will continue to innovate, invest in our people, and reinforce our position as Northern Colorado’s trusted real estate leader. By embracing opportunity and focusing on our mission, we aim to set the stage for success — for our team, our clients, and the communities we serve.
STRATEGIC VISION The Group is excited about what lies ahead and looks forward to helping you achieve your real estate goals in the year to come. Here’s to 2025 — a year of growth, opportunity, and connection!
