This month’s stats and graphics tell it all. These stats are compared to previous month. While inventory is up 4.3%, we still have less than 1 week of inventory on the market (which means all units will be under contract in less than a week). The inventory shortage is nothing new… a balanced market needs…
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Nationally: Want to see a funny example of the amazingly tight housing market? This listing will sell for over $800k with a squatter included in the basement! Higher mortgage rates have pushed refinance applications down 41% from a year ago, but purchase apps were down just 9% due to tight inventory. According to realtor.com, buyers are…
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National Experts Say Housing Likely to Normalize in 2022. From Realtor Magazine:While strong homebuyer demand and inventory shortages will continue into 2022, the housing market is unlikely to repeat this year’s dizzying heights, in which existing-home sales reached their highest point in 15 years with an estimated 6 million sales. Slower growth in home prices,…
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Ever wondering how the market is doing? Mortgage rates? Value of homes in your area? Here’s a tool we use and have partnered with. So go ahead… look under the hood. MARKETS IN A MINUTE (Brought to you by one of our favorite lender partners, Chris Hauber.)
Metro Denver’s housing market saw major decline with home showings dropping to a record low mid-April due to the Stay-at-Home Order. With restrictions lifted to Safer-at-Home on April 27th, approximately 3500 showings were scheduled that day, more than any other Monday in 2020. What I’m seeing during the COVID season: If you’re in the market…
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3.66% is today’s 30-year fixed mortgage interest rate (March 9, 2020). Affects and fears of coronavirus and the global economic fallout find investors seeking safer investments in bonds, improving mortgage rates even more. As bankrate.com points out, these low rates typically don’t last long and will likely increase swiftly as the world gains greater information…
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Sometimes I fear that since I sell homes for a living, people won’t believe me and my take on the real estate market. That somehow I’m twisting the numbers or spinning it to encourage people to sell or buy. (Pssst… little secret… I don’t because I can help people buy or sell, so it doesn’t…
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August stats show a stabilizing Denver area housing market, but it’s not normal. A balanced market between buyers and sellers should have about 6 months supply of homes for sale at all times. We’re still under 2 months supply. This demonstrates a strong seller’s market. But prices are increasing at a slower rate, so what’s…
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For two straight weeks we’ve seen very low interest rates at 3.82% for a 30 year fixed rate mortgage, which is a two-year low. If you’re in the market to buy, I strongly suggest locking in your interest rate now. If you’re in the market to refinance, now would be a very good time. Thank…
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May saw highest housing inventory in Metro Denver since 2013 and record-breaking average single-family home price. The Metro Denver real estate market is inching back in the direction of being balanced. Notice, I said inching. In May, there were 8,789 new listings (+17% over April and +38% over May 2018) and by month’s end, 6,470…
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