The Denver real estate market faced sluggish buyer activity in the first four months of 2024. As spring approached, a spike in mortgage rates—triggered by surprising inflation and job reports—kept potential buyers on the sidelines due to increased homeownership costs. By early May, the landscape began to shift. Economic reports showed signs of rising unemployment and created hope that the …
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 …
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 …
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 …
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.
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?
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 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. …
Using a lending product like a 2-1 temporary buydown is a great strategy that gives sellers an edge in making their homes more attractive to buyers by softening the payment shock buyers experience as rates have risen quickly. In this article we briefly explain current real estate market conditions, how they impact buyers and sellers, and how consumers have been …
Over the last 23 years, Colorado real estate has weathered the storms of the original tech bubble, The Great Recession caused by a housing crash and bad lending practices, ten years of robust recovery and wealth building, and the ups and downs of the last three years of the various covid policies, both good and bad. Through it all, the …
Many people experienced the first half of 2023 Colorado real estate holding their breath. What was going to happen to interest rates? Was the economy going to stall? Would real estate crash? Was it going to be another roller coaster like 2022? The good news is all of our predictions played out exactly as anticipated. Not because we are really good “guessers.” Rather, …
Let’s look back a year. 2022 saw a meteoric rise in home values in the first four months of the year, driven by incredibly low interest rates in the 3% range for a 30-year fixed mortgage and the lowest inventory on record in Colorado. The average price per square foot for a single-family home in the Denver metro area jumped …