FEBRUARY 2022 DENVER MARKET STATS
March 15, 2022 | denver-housing-market
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 the number of homes available. The number of new listings in 2022 is the lowest we’ve seen since 2009, but we are hopeful we will see overall inventory continue to rise as interest rates increase.
If low inventory is on your mind, I have a strategy to help you find properties that are off-market increasing the number of homes you have to choose from. If you are waiting to save up for 20% down, let’s talk about how to leverage mortgage insurance as one of the least expensive strategies to achieve your goals. Appreciation is still rising and you don’t want it to keep you out of the market.
86.1% of homes are selling at or above the list price, and showings prove to be strong out of the gate this year. If you are ready to get your home prepared to sell, let’s get together and make a plan. If you are unsure of your timing, let’s discuss my cost of waiting calculator to understand if timing helps you reach your goals entirely.
February saw prices on a single-family home up 17.41% year over year, and with inventory still so low, you will continue to see appreciation for your investment.
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