Sorry folks, I missed last week. We traveled to Tyler, Texas for some Southern Hospitality, 100* Days and the opening of The Thomas Hotel. We spent all day on Tuesday in Texas Airports trying to get back to Denver. Oh my, we have a #Conundrum on our hands in the travel biz…
But this morning is different, I’m up early, it’s cool enough to enjoy writing this on my back deck with the antics of a GSP occasionally distracting me. So, please forgive my grammar…
Let’s start off with #HennyPenny; the sky is not falling. At the end of June we had #5850 total Single Family Listings. This number is lower than every single year over the past 10 except one; last year. So, I don’t believe in my heart, Denver has set itself up for failure when it comes to Single Family Residences. If Washington continues to mess around with our futures like we are some sort of #Ragdoll, then I can’t help us. As long as Colorado is left alone, we will be fine. The Bureau of Land Management (BLM) can’t even keep their grubby little bureaucratic hands off our wild horses, but don’t let me go down that rabbit hole! Those horses are smart enough to manage themselves.
Here’s a picture of Denver’s Single Family Market over the last 10 years. Looks pretty good to me. And, Netflix has chosen some special homes with special rooms to base their new Adult Entertainment Show right here in Denver Metro. #WhoKnew?
14,283 in 2012 to 5850 in 2022 seems like a pretty healthy market.
Let’s look at last week’s numbers:
|New Listing (1750) A good seasonal pace, maybe a bit higher than expected.|
|Coming Soon (208) This is actually down a bit.|
|Back On Market (327)|
|Price Increase (180)|
|Price Decrease (1888) This is telling. Sellers are getting greedy and need to adjust to the new interest rate paradigm.|
|Pending (1374) Normal to lower than expected.|
|Closed (1316) Normal to lower than expected.|
The point here is simple. The #FreeMarket is smart. Left alone to make its own decisions, it does quite well. When artificially impacted by outside forces, it is not quite as smart. What we all need to remember is; most of these external events are “transitory”. Administrations change and so do their people. When the people change, the events change; for the good and bad.
As a country, society and people, we have some decisions to make. An overwhelming majority believe it is time for Federal Term Limits. We have them here is Colorado on State and Local levels. I like the turnover. I believe there are more benefits to turnover in the House and Senate than not.
Keep in mind, this market is complicated. We are here for you. From a personal home buyer needs and wants profile to a innovative seller strategy. We’ve been there and done that…tc