Market Insights for Fall 2018
Housing inventory increases to the highest level in four years giving homebuyers more selection and signaling increased days on market and a slowdown in the rate of price growth.
Is this the time to sit on the sidelines waiting for the market to turn?
With interest rates expected to go to 5.1 percent in 2019 and forecasted appreciation softening but continuing to remain strong at 5.6 percent year over year in Denver, the cost of waiting is significant.
Don’t fall into the trap of rumors about the Denver Real Estate market. Contact me directly and I will help guide you through the buying or selling process.
A $425,000 home today will cost an estimated $23,800 more in purchase price in one year and $286 more a month in your mortgage payment – that’s a 13 percent increase or cost for waiting a year.
With that being said, don’t wait to purchase until next year. The time to buy is now. Contact me directly to get the buying process start. I have an excellent team backing me that will make sure home buying is as seamless as possible.
- Average active listings for August is 17,020 (1985-2017).
- Record high August was 2006 with 31,664 listings and 2016 represented the record low with 7,327 listings. August 2018 had 8,228 active listings.
- The 20-year average change in active listings from July to August is a .16 percent decrease. 2018 represents an increase of 7.65 percent. This is the highest percentage increase ever recorded.
DMAR Market Insights
If you have any real estate questions or needs please feel free to reach out to me directly at Joseph@thecoloradobroker.com.