Trends in public trustees tell us about how much activity there is in terms of home loan refinances and home sales. In many ways, activity in releases of deeds of trust are an indicator of demand for real estate purchases in Colorado, and historically, we have seen more release activity during times of economic boom.
Activity Through June of This Year
In June 2017, we found that releases had fallen to a 12-month low in the 11 largest counties in Colorado, plus Broomfield County. These counties include more than 90 percent of the population of Colorado.
In June, releases totaled 23,422. That's the lowest total since June 2016 when releases totaled 23,265. June 2017's total up down slightly from the same month a year earlier, rising 0.7 percent from June 2016's total of 23,265.
Looking at counties, individually, we find that year-over-year, the counties with the largest drops were Adams, Broomfield, and Boulder counties. The largest increases were found in Weld and Denver counties.
Although June's total is clearly down significantly from December 2016's peak, overall activity continues to be generally robust as demand for housing and homes for purchase remains strong. Thanks to low interest rates and rising home prices, it remains relatively easy to obtain refinances for current mortgages, and home continue to sell quickly, with the possible exception of high-end homes.
All of these factors continue to put upward pressure on release activity.