Colorado’s Steady but Shifting Real Estate Market

Matt Hudson, CEO denver-housing-market, Market Trends

The 2024 real estate market started off strong with interest rates declining as expected, spurring a modest increase in buyer activity.  In mid-January of this year some mortgage banks were offering conventional 30 year fixed loans as low as the upper 5% range.  But then in February, just as the spring real estate market was about to kick in, the …

Inflation and Higher Interest Rates Drive Market Conditions, But What is to Come?

Matt Hudson, CEO denver-housing-market, Market Trends

On January 1, 2022 mortgage interest rates were 3% and the real estate market was gangbusters.  The year kicked off with unprecedented market volume and rising prices.   But it couldn’t last and at CHR, we were advising clients of rising rates to come and to not wait to purchase. A convenient narrative for real estate agents, but we actually knew …

Serious Buyers, More Sellers and Prices are Up

Matt Hudson, CEO denver-housing-market, Market Trends

As anticipated earlier this year, interest rates dropped, leading to a modest increase in real estate buyer activity. However, the release of the producer price index inflation report in early February caused a market reaction and mortgage rates climbed. Although the recent rate increase suppressed buyer activity, buyers that are active are serious, aggressive and fueling rising prices. Price The …

Colorado’s Hyper-Local Real Estate

Matt Hudson, CEO denver-housing-market, Market Trends

Amid ongoing fluctuations in mortgage interest rates and inflation proving to be more persistent and unpredictable than previously expected, we maintain a positive outlook for Colorado real estate. We anticipate a bumpy ride, though declining mortgage rates through year-end, alongside increased market volume and appreciating home values.

The 2024 Colorado Real Estate Market

Matt Hudson, CEO denver-housing-market, Market Trends

As we navigate the landscape of Colorado real estate, a common thread of questions weaves through the minds of homeowners and prospective buyers. What will the future hold for my property’s value? How will fluctuations in interest rates impact the market? Is the present moment opportune for buying or selling?

Buyers Market Today. Likely to Become Sellers Market in about 30 Days.

Matt Hudson, CEO denver-housing-market, Market Trends

The 2023 Colorado real estate market has been stable, but slow. Volume of activity relative to the growing Colorado population has been the lowest on record due to the significant rise of interest rates starting in the spring of 2022.

This rise of rates meant fewer buyers and fewer buyers meant less upward pressure on price and more strength in negotiation for buyers. We see this in all the numbers.

The Coming Bounce Back

Matt Hudson, CEO denver-housing-market, Market Trends

The 2023 Colorado real estate market has been as low in sales volume relative to population size as any market in history.  But the narrative about the market has been misleading.   Home values increased through the spring and summer selling months and have held steady through the second half of the year, which typically sees more of a seasonal decline.  …

MAY 2022 DENVER MARKET STATS

Matt Hudson, CEO denver-housing-market, Market Trends, metro-denver

MAY 2022 METRO DENVER STATISTICS All comparisons made to May 2021 The past 10 years have been a wild ride in the real estate market. In February 2012, the average sales price in the Denver Market was $247,282, the average days on market was 85 days, and interest rates had dropped from 4.8% to 3.89% over the previous 12 months.  …

APRIL 2022 DENVER MARKET STATS

Matt Hudson, CEO denver-housing-market, Market Trends, metro-denver

APRIL 2022 METRO DENVER STATISTICS All comparisons made to April 2021 Interest rates are up, and buyer demand is still holding strong. Showings are one of the most significant indicators of buyer demand, and as of early this month, showings for the Denver Metro Area hit 468,002. It is fewer showings than the frenzy of April 2021, which hit 502,836 …

MARCH 2022 DENVER MARKET STATS

Matt Hudson, CEO denver-housing-market, Market Trends, metro-denver

MARCH 2022 METRO DENVER STATISTICS All comparisons made to March 2021 A shift in market conditions is occurring. In early April, days on market hit an all-time low of 7.54 days, demonstrating a high level of buyer activity. Compared to the last two years, more homes listed this year have gone under contract. With these two facts, you would think this would make it …

FEBRUARY 2022 DENVER MARKET STATS

Matt Hudson, CEO denver-housing-market, Market Trends, metro-denver

FEBRUARY 2022 METRO DENVER STATISTICS All comparisons made to February 2021 The impact of rising mortgage rates is coming, and the monthly payment increase associated with the change will be felt mainly with buyers, putting into question their ability to purchase this year. In addition, iThe market needs more inventory and we are starting to see a small increase in …

JANUARY 2022 DENVER MARKET STATS

Matt Hudson, CEO denver-housing-market, Market Trends, metro-denver

JANUARY 2022 METRO DENVER STATISTICS All comparisons made to January 2021 The impact of rising mortgage rates is coming, and the monthly payment increase associated with the change will be felt mainly with buyers, putting into question their ability to purchase this year. In addition, if there are fewer qualified buyers, we will see an increase in inventory and less …