08/17/2021derful #Afganistan #Haiti #Wildfires #SPAC #GratefulDead

As we start another week, to the outsider, this world would appear to be upside down and backwards. AS I write this, Wall St. Futures are down but not much. The “Stan” countries are reeling from the prospects of no US intervention moving forward. (Did you know “Stan” means “Land” in Persian?) OMG, can Haiti get it any worse? Earthquakes, Tropical Storms and abject poverty continue to plague the little country. A SPAC created by a Wall St. stallworth is being challenged by the SEC. And, I could go on and on, but for the most part, we soldier on, day in and day out. All this makes me recall a Grateful Dead Song, The Wheel. It goes something like this…

The wheel is turning and you can’t slow down,
You can’t let go and you can’t hold on,
You can’t go back and you can’t stand still,
If
the thunder don’t get you then the lightning will...”

Over the last 7 days in Denver’s MLS system, we continue to see the same revelation as last week and all the 2021 weeks before. WE continue to see more active listings become Pending and more Pending Listings become Closed reflecting a continuing “Sellers’ Market”…

New Listing (1168) This number is so low, anyone forecasting a change to a Buyers’ Market may need to take another look!
Coming Soon (191)
Back On Market (224)
Price Increase (141)
Price Decrease (746)
Pending (1832) Over 400 more Pending listings this week than New Listings! This is way out of balance!
Withdrawn (154)
Leased (63)
Closed (1583) Once again, Sellers will enjoy solid returns moving forward.
Expired (139)
Above, Denver’s MLS Data for the Last 7 Days in 11 Counties

Below, you will see even more verification for my hypothesis of inventory shortage and buyer demand…

Any gains of inventory we felt over the months since April appear to have been all but washed away by August. Keep in mind, today’s inventory in Denver is almost half of that in September of 2020. Let’s understand, Denver enjoys positive employment growth, and it also enjoys tremendous business creation. Couple that with events of the last year surrounding the COVID Lifestyle of remote working, and we have all the makings of continued strong demand for homeownership.

So, today, I will leave you with this image. From over 26K listings to under 5K in listings during the last 10 years. I’d buy into this market, and at the same time, try to lock up as much 3% money as the bank would allow. Enjoy…tc

Dee & Tom Cryer, SCRP
Broker Associate
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
303-638-3202
Tom@Kentwood.com

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business!
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