02/08/2022 #EmptyShelves #TuesdayTestimonials

Two pearls from the last week.

“Don’t wait and allow your buying power to erode.”

“Rates are going up.” I’m not so sure here, I think they have already had their run up?

What’s the point? The point is with prices still rising and rates creeping up, a buyer’s buying power is eroding. On the other hand, rates could slow buying in some price ranges and benefit a patient buyer. Risk and Reward, right?

I was quoted last week as having related the “buyer’s chorus” over the last few years…

2020 – “Prices are too high” 2021 – “Prices are too high” 2022 – “Prices are too high, and now rates are up.” As a buyer, one must not look at today, but one must look 5 years out. Short sightedness is the curse of every investor/homeowner at one time or another. “The water is warm; jump in!”

Let’s look at a few charts. The first chart will be our weekly activity chart.

New Listing (542) Wow, how can this remain so LOW!!!
Coming Soon (179) UP a little, but clearly not enough to make an impact on supply…
Back On Market (109)
Price Increase (275)
Price Decrease (124)
Pending (1235) I’ll ask again. Where are buyers finding Actives to put Under Contract?
Withdrawn (60)
Leased (43)
Closed (906) Is this a beginning of Supply Shortage slowing sales down?
Expired (179)
The Last 7 Days of Single Family Activity in Denver Metro

My goodness, we are into Mid-February at this point, and I would have believed the the Denver Market would have shown it’s true colors by now. All we’re getting is more of the same. Shortage, shortage, shortage!!! Here’s proof.

An All Time Low of Inventory Denver Metro Single Family 11 Counties.

But Wait There’s More… This next image is telling us, there is a possible a top to this market coming. Do you believe it.

This is the average price over the last 10 years. $689,000 Can you believe it?

I know we are early on into 2022, but this is really the first sign of any type trying to send us a message. What’s your guess? Too soon to tell? It will go higher? At this point, my guess would be to flatten the curve.

#TestimonialTuesday

My Realtor gave me great information. Answered all my questions in ways that I could easily understand and available for any concerns I might have.She was really ahead of the game on information needed by me to make good decisions in the selling of my home. No problems whatsoever. The pictures of my home really were indicative of what a great family home it would be. I am very thankful Dee was my Realtor.

Like I was quoted above, “The water is warm; jump in…”, and have a great week!

About Tom & Dee Cryer

Your Trusted Advisors in the Homeownership Business! TheCryerTeam@Kentwood.com
This entry was posted in Denver Residential Real Estate and tagged . Bookmark the permalink.

1 Response to 02/08/2022 #EmptyShelves #TuesdayTestimonials

  1. If 2021 was the “Hot Vax” summer, then 2022 is looking like the “Hot Pack” summer. A Lending Tree survey of 2,100 people found that nearly 40% of Americans — some 132 million people — are considering a move this year and moving company moveBuddha estimates 70% of moves take place between May and August.

    Younger generations and remote workers are the top demographics considering a move.

    Like

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