Can you believe it? It is already May! And, that’s my point this week; “Time knows no bounds”… Covid, the economy, taxes, human conditions, politics, weather, daylight, night, drought, flood, markets and more can’t stop time. As we follow along this week, once again, Denver’s Residential Market continues to not look back! Buying a house in the Denver Market does not allow a buyer to look back. Looking back only casts doubt. Looking forward, however, allows a buyer to have the hope of future wealth.
As Elliot Eisenberg put it this week, “So far this earnings season, 87% of firms have beat analysts profit expectations, well above the normally inflated 65%. Moreover, the earnings beats have averaged 22.8%, crushing the 3.6% average since 1994. Why? Large firms have taken market share from failed small ones, and GDP is just 0.9% below its pre-pandemic peak while employment is still down by 8.5 million workers, suggesting large efficiency gains are hitting the bottom line”. Time knows no bounds…
Below, you will see the last 7 days in the 11 counties surrounding the Denver Metro MLS Market results.
|New Listing (902) This is an improvement over the average, but still too low!|
|Coming Soon (217)|
|Back On Market (140) This is still remarkably low… Buyers are committed!|
|Price Increase (233)|
|Price Decrease (246)|
|Pending (1745) This is shows the reality of competition in this market!|
|Closed (1840) WOW, this is a big number despite the lack of inventory!!!|
Denver Buyers are straining for more inventory, but inventory is slow in coming!
I believe this market still has “legs” to grow prices as long as we have these low rates. A 30 year fixed rate $1,000,000 mortgage at 3% is still just a little over $4,200/Month. Seems like a big monthly number, but at $500,000, it is less expensive than rent in this market.
Moving forward, watch rates, job growth and available inventory. These will forecast the future of Denver’s Residential Market.
Please never forget, we are here for you. We’ve been to battle, we’ve won and have many happy buyers and sellers in this high demand market. We can share our success with you too. Time knows no bounds, and it’s not waiting for you! Safe travels…tc’21