Good Morning Everyone!
It’s always fun to start a new week. The prospects of a fresh start, new challenges and more change always adds a little excitement to life. Everyone has been reading about the “Stock Market Bubble” and the “Residential Housing Bubble”. Predicting either is for “fools and newcomers”. Remember, “It is time in the market and not market timing”. Today, we will only be focusing on Denver’s Residential Market, and with all the factors attributed to any market, we will be focusing on the micro economic factors attributed to Denver and it’s 11 surrounding counties.
The Metro Area has matured into the innovation “heart beat” for the entire Rocky Mountain Region. This added to already being the financial center, energy center, transportation center, distribution center, tourism center and more, our economy supports its well established home value trend. Rates, Employment, Supply, Demand and Demographics all lend additional credence to this hypothesis. Let’s look at this week’s numbers.
|New Listing (947) It was a holiday week, but still, this is too low. We need inventory!|
|Coming Soon (250) This number is up from last week. Possibly a good sign.|
|Back On Market (202)|
|Price Increase (188)|
|Price Decrease (604)|
|Pending (1509) A typical number for this time of year.|
|Closed (1604) A pretty strong number. Where are buyers finding these sellers?|
|Expired (299) This number is up. Sellers with overly optimistic views of value?|
LOOK, 2021 has been a Roller Coaster! No kidding… Well, the Single Family Residential Market in Denver is clearly in evidence. Not unlike recent years, we will start to run out of listings rolling into year’s end, but demand is unlikely to follow this trend. Buyers will be chasing new listings into 2022. Bet on it!
Will Denver’s Economy be adversely affected by external factors? There are a lot of factors facing the good old US of A that could weigh heavily on our economy. A stock market reset, anti-business growth legislation, tax changes, affordability, Global Affairs, and more could all have an impact on our residential market. I believe the path is pretty well set through year’s end. Next year is on you right now. FAANG will guide us into the new year once again, so, I’m pretty optimistic about 2022 too…
Dee & Tom Cryer, SCRP
THE CRYER TEAM
Kentwood Real Estate
4949 S. Niagara St. #400
Denver, CO 80237
Your Trusted Advisors in the Homeownership Business
“Outstanding attention to detail and guided us through the whole process from listing to closing. The marketing was so good, we listed the property on Friday and had an offer by the following Tuesday….. closed the sale 3 weeks later! Great advice and always available (7 days a week) for questions. They saved us a lot of money by recommending appropriate contractors to deal with the repairs required by the buyer. Thank goodness we had the Cryer team to keep the sale on track…. The buyers’ realtor was about as much use as a chocolate oven. I would have absolutely no hesitation using them again or recommending them to a friend or family member.”
- David H. 2021