denver housing market slowdown gives first-time buyers new opportunities
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September’s Denver Metro real estate market experienced a seasonal slowdown, with new listings, pending sales, and closed sales declining.
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seasonal slowdown met by high rates in Denver housing market
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Inventory in the Denver metro region housing market is growing, and although that indicates slightly more choice for buyers in a tough market, demand is also softening, according to a recent real estate report.
Read Morehomes are staying on market longer in the Denver metro. That’s good news for cash buyers
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More homes on the market should be a good thing for people that have the cash to buy. But home prices still haven’t come down all that much even as the market stalls out.
Read Moredenver's new builds can't meet housing demand
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New Denver homes are popping up and selling quickly, but supply still can't match demand.
Why it matters: As U.S. mortgage rates hit a 20-year high, golden handcuffs are locking up Denver's housing inventory, and that's fueling buyers' appetite for new builds, according to real estate experts.
Read Moredenver homebuyers see some relief as closed price-to-list price ratio drops
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With a near-record low number of homes available in the Denver metro in July, it’s still officially a seller’s market. Still, some buyers are seeing a little relief as the closed price-to-list price ratio dropped slightly below 100%.
Read Morethe hottest U.S. housing markets
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Much of the housing market remains frozen in place as mortgage rates trend up and existing homeowners remain reluctant to give up their sub-4% interest rates. This means a "hot" market today is more likely one that has returned to the basic fundamentals of demand, supply and relative affordability.
Read Moremassive 21-foot-tall sculpture of 'ancestral goddess' unveiled in colorado
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A stunning new sculpture has popped up in Colorado and it's one you'll definitely want to check out.
Read Morenot so hot july: low inventory, interest rates keep colorado housing market calm
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The latest Market Trends Housing Report from the Colorado Association of Realtors shows the single-family home inventory in the seven-county Denver metro area dropped 3% between June and July and is 28% lower than in July 2022.
Read Moredenver-area home prices may stay flat or decline for the rest of 2023
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Prices are dropping in the metro. In July, the median sales price for a detached single-family home was $650,000, which is down from the June price. Prices have been rolling down since May after rising since January.
Read Moredenver top in nation for rent gains, outstripping income gains since great recession
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Metro Denver apartment rent inflation has outstripped income gains by a higher margin than in any other major city in the U.S. since 2009, according to a study from Clever Real Estate subsidiary Real Estate Witch.
Read Moregolden handcuffs lock up denver's housing supply
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Mortgage holders are experiencing the "golden handcuffs" phenomenon. They might have a great rate now, but likely can't move without spending a lot more cash, explains Redfin chief economist Daryl Fairweather.
Read Moredenver housing market 2023
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The Denver real estate market may be reaching an inflection point after years of rising home values as buyer demand adjusts to rising mortgage rates. We look into the current market trends for buyers and sellers.
Read Moremetro denver homes sales market volume dives 30% in a year
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While May provided some bright spots for metro Denver’s home sales market — namely more new listings than April for buyers to choose from — the market still “feels off,” according to the Market Trends Report released by the Denver Metro Association of Realtors Saturday.
Read Moredenver’s realtor association has stopped analyzing naturally affordable homes, citing a lack of data
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No doubt, that market has shrunk. Last month, just 450 homes — including houses, condos, duplexes and townhouses — closed in that price range. That’s down by 807 closings in May of 2022.
Read Morelimited may inventory continues to drive metro denver home prices
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Despite close to 7% mortgage rates, limited supply drove home prices higher again in May.
Last month, all properties sold in metro Denver had a median closed price of $595,000, up from $580,000 in April. May was the third month in a row to record price increases.
Read Morehow first-time buyers are finding success — and frustration — in colorado’s housing market
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Higher interest rates and for-sale prices may be a barrier, but for those ready to plunge into home ownership, the best advice is to get educated.
Read Moredenver housing market: everything you need to know
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Buying and selling a home in Denver is beginning to look much different in 2023 than it has over the past few years. The Mile High City was booming well before the pandemic as newcomers flocked here to be close to the mountains and enjoy the laid-back lifestyle in one of the best places to live in Colorado.
Read Moredenver housing market forecast
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In the Denver metropolitan statistical area, though, even waning demand can’t alter the market much – not with the ultra-low supply the area is dealing with. In fact, despite the changes today’s higher mortgage rates have ushered in, Denver still ranks as the fourth-strongest housing market in the nation, according to the U.S. News Housing Market Index.
Read Moreproperty values jump 35% to 45% in 9 counties across denver metro area
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Property assessors for nine metro Denver area counties announced on Wednesday that property valuations, which help determine how much homeowners pay in property taxes, saw double-digit increases in their biannual assessment.
Read Morewhat’s working: as home prices drop, colorado’s real estate industry looks to history to understand trends
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If you’re house hunting, there are plenty of homes available in Colorado — nearly 10,000 at the end of March, which is up 41.8% from a year ago.
Prices are a bit lower, too.
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