Well? What’s everyone thinking about on this cold, cloudy Tuesday in December? I’d like to be able to report “all the drama is behind us”, but it is not. It never is. Tomorrow, there will be something new. Who knows what it could be? Here are three things for sure, however, in this time of uncertainty.
First, Home Mortgage Rates are incredibly low, and they will stay low well into 2021.
Second, the Denver Metropolitan MLS Area has a shortage of resale inventory, and New Build Inventory is no better right now. This shortage will run well into 2021.
Finally, Job Prospects, Demographics and Geography are creating strong demand for residential housing in Denver/Colorado. This demand is going to remain strong well into 2021, also.
Low rates, limited supply and consistent demand will define 2021 just as they did in 2020. The sun will come up in the morning, too!
It’s hard to predict the future, but it seems pretty sure of itself right now, so let’s run with it, OK?
This week’s numbers confirm everything reported above. The numbers are really just unbelievable! Please follow along…
|New Listing (429) Simply an incredibly LOW number.|
|Coming Soon (88)|
|Back On Market (148)|
|Price Increase (199)|
|Price Decrease (363)|
|Pending (1034) REALLY, over 1,000 under contract listings in the last 7 days?|
|Closed (1282) Oh My, “We’ll be home for Christmas…”|
With ratios and number like these, you can understand why I am so sure about my predictions. We will start 2021 with less inventory, better rates and probably equal or higher demand factors than we did 2020. If you are a buyer, or If you are a seller, the water is warm, come on in… The market is waiting for you!
We’ll keep the light on for you…tc21
#AreciboObservatory RIP 007