First Quarter Market Report 2016

I am excited to share my Aspen Snowmass Real Estate Market Report for the First Quarter 2016. It has been a slow start to 2016. There are a few macroeconomic factors that are affecting our market negatively in the first quarter including the strength of the US Dollar, and the impact that is having on our international guests, particularly for Australian and Brazilian buyers. Australian visitors were down about 25% this winter in January and February. The unease of the stock market in 2016, even though it has bounced back strong the last month and seems to be stabilizing, has given buyers pause, not to mention the softening of the high-end New York City real estate market. The Presidential election is not helping things either. Lastly, the price of oil has put our Texan buyers on the sidelines so far in 2016 as well. There are a few challenges out there of which we are not immune.