We’ve started 2021, and now almost 4 weeks in, we start to see the story unfold. As we noted in yesterday’s blog post, Denver is still considered a “hot spot” on the national level for 2021, and this story isn’t going away anytime soon. Please follow along below.
While all this segues perfectly into my Hashtag above. I wish it weren’t so. Whenever a market’s pendulum swings too far one way or the other, eventually “the arm breaks”. All that glitters is never gold. Shakespeare had it right!
|New Listing (644) This is dangerously low. What are sellers waiting for?|
|Coming Soon (138) Nothing here…|
|Back On Market (141)|
|Price Increase (372)|
|Price Decrease (314)|
|Pending (1435) Wow!!! This number is huge even for mid-season!|
|Closed (995) My goodness; weren’t we busy around the holidays?|
In Denver Metro, we have enjoyed 10+ years of an upward trend in home appreciation. My blog post from 01/2011 read a little differently. If you click back to a time when we were recovering from the excessively liberal lending policies of 2000-2008, we saw a market come apart at its seams and healing start. The title of that blog post read, “Denver Foreclosures Have Reached Their Peak and Turned the Corner, but….”
The headline today should read, “Buyers are locked out. There are no home choices for them to buy.” This is an incredibly harsh negative statement about our market. We complete transactions all the time with both buyers and sellers, but let me tell you, the buyer’s journey is significantly more difficult than the seller’s in this market. So, the joy of home ownership is a pilgrimage at best. The Glitter toward Homeownership is not golden when it takes such a concerted effort to achieve.
That’s why if you are a buyer, it is to your benefit to learn how our system works to give you the best opportunity to “come in first”. If you are a seller, learn from our experience by getting your home ready to “bring top dollar”. From your first home to your last, we will be there for you every step of the way…tc