We are seeing aspects of the market understandably respond to job loss, the shelter-in-place order and economic challenges. At the same time, we are seeing signs of consumer adaptation and continued strong market activity fueled by positive aspects of the Denver economy and real estate market. So has there been a BIG shift?
No, not just yet.
For the moment, Denver is still a strong sellers’ market as inventory remains low and interest rates continue to attract buyers. However, we remain circumspect arriving at conclusions about the direction of the market. So many factors are at play between the stimulus package, lost jobs, shelter-in-place order and direction of the US economy.
Last week, we established a baseline for the Denver real estate market through Week 10 of 2020, or prior to any presumed market impact from COVID-19. Our intention is to write fact based and data driven analysis versus sensational reporting. We maintain that commitment. However, this week is more conjecture as we endeavor to provide interpretation of any patterns we see evolving.
We expect the social and economic fallout of COVID-19 to impact the Denver real estate market. You’ll need reliable information. Not rumor or opinion, but fact-based, data-driven truth. Many homeowners have built substantial equity in their homes over the last few years and they are asking us for advice.
There is an 82% to 86% chance that you made money on ownership of metro Denver residential real estate no matter when you bought and sold over the last 26 years.
Do you have a road trip that you take repeatedly? Heading over to Sturgis on the Harley? Trundling off to Lake Powell? If so, you are familiar with the waypoints. That place you stop for a milkshake. A noteworthy view from a mountain pass. The historical marker where someone famous did something noteworthy at some time in the distant past. The …
We’re seeing lots of news recently about a shift in the metro Denver residential real estate market. It’s true! The market IS shifting. However, the portrayal of this shift as reported in the popular media and even by many industry sources contains only a drop of truth in an ocean of misinformation. LET’S UNRAVEL TRUTH FROM FICTION. Most of the …
There is a seasonality to residential real estate sales and there are both myths and realities in connection with this phenomenon. One myth is that most resale home transactions occur during the first half of the year. That is dispelled by the chart shown here. On average, the distribution of closings per quarter is 19%, 29%, 29% and 23% over the last …
There are many ways to look at housing affordability. A prior post evaluated affordability by comparing payment required to income available over a 43-year time frame. An alternative methodology is to look at monthly house payments after adjusting them for inflation. At Colorado Home Realty (CHR), we conducted an affordability analysis recently using this complementary approach. Since this analysis takes …
Imagine it’s 1979. The average single-family home in metro Denver carries a price tag of $66,051. Don’t you wish we could go back to those days when housing was so affordable? A recent affordability study by Colorado Home Realty (CHR) came to a shocking conclusion: The average single-family home in 2016, selling at $441,172, is significantly more affordable than its 1979 counterpart! …
Market Predictable … and Affordable? “Second verse … same as the first.” That iconic line from a 1910 British theatrical song, famously reprised by Herman’s Hermits in the 1960s, summarizes the metro Denver residential real estate market. It is keeping the same pattern year after year. The 12-month moving average for single family home prices is 8.5% now versus …
Is Denver Affordable? Is the Denver Real Estate Market a bubble? Should we have economic concerns? Why do we care? Links mentioned in the video: Housing Affordability: https://bit.ly/2uZA4vC Average House Payments Near Historic Norm: https://bit.ly/2h2ZgvV Subscribe To Our Blog