This is a great article on the state of the housing market on a national level.  Many points reflect directly to some of the challenges here in Telluride......enjoy.

Volume 19, Issue 38 For the week of October 19, 2015

 

A Refreshing Take On The Housing Market

 

A vast majority of Americans believe that buying a home is a solid financial decision, and most believe they could sell their home for at least its initial purchase price, according to a new survey from the National Association of Realtors®. The 2015 National Housing Pulse Survey also found that a preponderance of Americans think that now is a good to buy a home.
The survey, which measures consumers’ attitudes and concerns about housing issues in the nation’s 50 largest metropolitan statistical areas, found that more than 8 in 10 Americans believe that purchasing a home is a good financial decision, and 68% believe that now is a good time to buy a home. 71 % believe they could sell their house for what they paid for it, a jump of 16% from 2013.
When asked for reasons about why homeownership matters to them, respondents’ answers did not change significantly from past years. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top three reasons to own a home.
The number of renters who are now thinking about purchasing a home has increased since the last survey in 2013, up from 36% to 39%. 61% of renters stated that owning a home is a priority for their future. According to the survey, 80% of respondents believe that pre-purchase counseling programs and classes are very or somewhat important. 45% of homeowners who said they did not take a counseling program, reported they would have taken part in one had it been easily available to them.
Attitudes about the housing market have improved in recent years. 49 % of respondents indicated that they feel activity in the housing market has increased in the past year, compared to 44% in 2013 and 12% in 2011. 89% expect home sales in their area to either increase or remain the same. Concern about foreclosures has also declined, with only 15% of respondents indicating that foreclosure is a major concern.
In addition to improved attitudes about the housing market, survey participants also showed an improved outlook regarding the economy. Only 36% think that job layoffs and unemployment are a big problem, a substantial drop from 45% in 2013.
Perceived obstacles to homeownership

• 78% of respondents point to college debt and student loans as the main obstacle to making a home purchase affordable.

• 66% of participants said they have a full-time job but still did not make enough money to purchase a home.

• 74% believe they do not have enough money for a down payment and closing costs.

• As the market has improved, concern about the cost of housing has increased. • There is additional concern over the lack of available housing.

• For adult millennials under the age of 35, the burden of student debt is their chief concern, with 86% of respondents naming college debt as an obstacl
The 2015 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program.


Key Economic Reports Released This Week 
 

RELEASE
DATE
ECONOMIC
INDICATORS
RELEASED
BY
CONSENSUS Wt. INFLUENCE ON
INTEREST RATES
Mon 10/19
10:00 am et
NAHB Housing Index
for October '15
National Association
of Home Builders

64

** Undetermined
Mon 10/19
1:00 pm et
Weekly Bill Auction Dept. of the Treasury

N/A 
offering

**  If strong demand
 If weak demand
Tue 10/20
8:30 am et
Housing Starts / Permits
for September '15
Bureau of the Census
Dept. of Commerce

HS 1.147M
BP 1.170M

***  If above consensus 
 If below consensus
Wed 10/21
7:00 am et
MBA Mtg Apps Survey 
for week ending 10/16
Mortgage Bankers Association of America

N/A

* Undetermined
Thu 10/22
8:30 am et
FHFA House Price Index
for September '15 Y/Y
Federal Housing
Finance Agency

0.5%

**  If strong demand
 If weak demand
Thu 10/22
8:30 am et
Jobless Claims
for week ending 10/17
Bur. of Labor Statistics
Department of Labor

265k

*  If above consensus
 If below consensus
Thu 10/22
10:00 am et
Existing Home Sales
for September '15
National Association of Realtors

5.33M

***  If above consensus 
 If below consensus
Thu 10/22
10:00 am et
Leading Economic Indicators
for September ' 15
Bur. of Econ. Analysis
Dept. of Commerce

0.0%

***  If above consensus 
 If below consensus
* Low Importance ** Moderate Importance *** Important **** Very Important