With the help of Elliot Eisenberg this week, I will “be brief and be seated”. #CommodityInflation which includes #Energy #Food and #Metals and #DomesticLabor scarcity is making everything from my cheese burger to my driveway more expensive. #ChinaLockDowns are going make “supply chain” a dinner conversations for years ahead. #Russia and #Ukraine continues to be a “war like none other” as they say on the news almost everyday. (I think all wars are like none other.) All in, the pond is full of #BlackSwans with all this happening in less than a year.
What affect has this had on Denver’s Residential Real Estate Market?
|New Listing (1314). This is a huge jump in the weekly add of New Listings!!!|
|Coming Soon (329) A Very Strong Number Here!!!|
|Back On Market (182)|
|Price Increase (219)|
|Price Decrease (526)|
|Pending (1798). A mid-season number and a refection of strong demand!!!|
|Closed (1715). We are hitting on all 8 cylinders here!!!|
As you can see above, we now have ample supply coming into the market, we have continual demand swallowing it up for the time being, BUT Price Decrease and Back on the Market Listings are both #BlackSwans hiding and waiting for where we may be heading.
This chart below says we left April behind with 2,839 Active Listings with May growing, but in perspective, we need what’s happening with supply now…, but for how long?
OK, Here are the numbers: January 1,638 Active Listings on the Market, February 1,735, March 2,281 April 2,839 and May is already showing signs of acceleration. Expect more Active Listings in the Days, Weeks and Months ahead.
A quick note here; We could easily absorb and work well with twice this much inventory, but It will be interesting to see how this plays out. Comeback next week and please subscribe; it’s easy…tc