#WhoKnew the Russians would invade the Ukraine? #WhoKnew long term mortgage rates would go up so quickly? #WhoKnew this market would march along almost unaffected by any of these external factors. Let’s see what this week’s MLS numbers are telling us…
|New Listing (1182). This is quite an improvement over weeks past. Solid! This should help buyers, but look below…|
|Coming Soon (421). Another solid number adding to the coming growth of supply, but let’s look further down.|
|Back On Market (174)|
|Price Increase (236)|
|Price Decrease (444). Sellers are finally being punished for coming out too strong.|
|Pending (1921). WOW!!! This is a huge number. Whenever this number approaches or exceeds 2K, it’s a big week. All those New Listings have new buyers waiting for them…|
|Closed (1489). A solid seasonal number around 1.5K closed is important. I is well above the typical weekly average!!!|
How many Active Listings do we have this month vs. last month? Even though last year was a record year for low inventory, this year in spite of all the #BlackSwans mentioned above, 2022 still has lower inventory than 2021. Hard to believe, but in the 11 counties surrounding Denver, it’s true! Based on history, buyers should be enjoying some more choices over the summer months!
So, as we await this trend of more inventory, let’s keep our cards close to the vest. Get your life in order to be a buyer or a seller. Gather funds and credit to compete as a buyer. De-Clutter and purge if you plan to be a seller.
In spite of market conditions, our buyers are winning at a very high percentage. Our sellers are routinely setting records in their market areas. This is only accomplished by strategic planning and perseverance. Let us help you…tc