Denver Market Watch with 2020 Vision 06/02/2020

UNADJUSTEDNONRAW_thumb_1844Here we are; June, 2020. Almost halfway through a so far very turbulent year. “Black Swans” around every corner. As Tom Petty and the Heartbreakers sang, “The waiting is the hardest part…”. I believe our vision will be better by month’s end, but in the meantime, let’s take a look at the data.

New Listing (1339) In relative terms, this is a low number for this season. 
Coming Soon (172) But, with this new category, let’s count these in too! 
Back On Market (327) 
Price Increase (167) 
Price Decrease (1229) Did we get ahead of ourselves? 
Pending (1999) Wow! This is a great number. Business is happening. 
Withdrawn (183) 
Leased (101) 
Closed (1328) Not a great number for this time of the year, but clearly catching up. 
Expired (379) In any market, some sellers will just give up. 
Compiled from REColorado 06/02/2020

A quick comment about this week’s data. Denver’s Residential Real Estate Market has all the attributes of a robust and healthy market place. Our business through the shut down hardly missed a beat. There was just a two week window where the numbers favored the buyer, but that is long past now. The long story short, if we don’t see another black swan, Denver will continue strong demand, a shortage of inventory and a sellers’ market for many weeks to come.

Let’s keep our faith in America to do the right thing, to forge ahead with a better perception and level of care for our neighbors. No matter where my clients come from, they all want the same things. A safe neighborhood, good schools and a source of livelihood. This all starts with homeownership. Having the chance at homeownership gives everyone something to do, something to love and something to hope for. The secrets to a successful life are real.

We could all wax poetically about what should have been done, what should be done and what can we do now. I’m sorry to say, I don’t have any of the answers. Let’s just think before we do, think before we talk, and think about be kind to one another. What do we have to lose?

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business!
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