05/31/2022 #TestimonialTuesday #Case-Shiller #Inflation #Fuggedaboutit

Let’s get right into it. One of the most forward thinking pieces of data in Residential Real Estate is the rate at which Active Listings are go Pending. Please, listen to this; if you’re a buyer in the Denver Residential Market, and you are waiting for the big “Correction”, “fuggedaboutit”…!!! Follow along please…

New Listing (1140). Over the last 7 days in Denver, this many New Active Listings
Coming Soon (391). Well, here’s some good news for buyers!
Back On Market (202)
Price Increase (129)
Price Decrease (665)
Pending (1366). Over the last 7 days in Denver, this many Actives went Pending!
Withdrawn (148)
Leased (65)
Closed (1441). Voila’, It’s magic I tell you, MAGIC!!!
Expired (140)

The next chart is going to reflect the number of Active Listings vs. the number of recent Pendings on a monthly basis for the last 10 years. This market is healthy!

Notice the consistency of the Green (Pending) Line vs. the Blue (Active Listing) line. Once again, if you are waiting for capitulation in the Denver Residential Housing Market, it’s not coming anytime soon. When the Green Line is greater than the Blue Line, we are placing more Listings to Pending than we are putting new signs in the ground for Active. This is the classic view of strong Demand and tight Supply.

OK, this next chart is simply Active Listings in Total over a 10 year View.

Keep in mind, both of these charts are the 11 Counties making up the greater Metro Area.

Once again, Long Story Short; we will move toward a more balanced market. We are not there yet. My prediction is over the next 6-12 months, much of the “Multiple Offer” scenarios will wane into the background and buyers will actually get to show a property 1, 2 or even 3 times before having to right a contract. Sellers will have to make their homes “Parade Ready”. No more unkept lawns, interiors and/or serious defects. Buyers will have a Trump Card finally.

This will be a slow moving train, but it will be forceful and observable.

For more commentary like this, please follow along and subscribe. I hope to see you next Tuesday….tc

About Tom & Dee Cryer

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

Thank you for your comment.

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.