I wanted to add some comments this morning about the upcoming election in Colorado. Did you know as of 08/01/2022 according to the Colorado Secretary of State, there are 3,691,401 active registered voters in Colorado? Did you know of those 3.7M voters, 1.65M of those are Unaffiliated Voters; 931K of those voters are Republican and about 1M of those registered are Democrat. This tells me, almost half of all registered active voters in Colorado prefer not to be branded by a Party… Interesting, isn’t it?
At the same time, voter participation in Colorado continues to be as high as ever. The shift toward the Unaffiliated Voter is more about Party Alignment but not voting. Basically, 1.65 registered voters find freedom being a voter from the outside in rather than the inside out. As an example, as an unaffiliated voter, I can vote in either primary, but not both. Interesting times in which we live?
One thing is for sure, November will come and go. Some number of us will be happy with the election results on the day after and some number will be unhappy. But, the sun will come up in the morning…
Over the last 7 days in the Denver MLS, the stats are not offering anything truly new to the story. Please follow along…
New Listing (1252) This is not indicative of a market where sellers want to get out and run. It is typical seasonal weekly number.
Coming Soon (95)
Back On Market (291) Deals falling is typical, but this is starting to be on the high side. Is it rates, inspections or fear?
Price Increase (90)
Price Decrease (1604) This is a very telling number. Of the 6-7,000 active listings in our market area, about 25% required a Price Decrease to move toward a written offer.
Pending (1388) This is actually quite a strong weekly number. Maybe since the Listing the buyer wanted was priced appropriately, making an offer became more acceptable?
Closed (1128) Not a great week, but clearly an acceptable week.
However we measure the weekly activity, it still shows great strength with a lot of buyer/seller cooperation going on. From a Broker’s point of view, this is shaping up to be a very fair and more normal market. If you are a buyer who has been waiting on the sideline, maybe now will be a great opportunity for you to find the right property. Let us show you how.
As we close out August, we have 7,010 Active Residential Listings.
What are some of the factors causing the market to build inventory? Interest Rates, Affordability, Fear, Election Anxiety, Economic Fortunes, War, Supply Chain, Inflation, Stagflation, and more. What has impacted your decision to buy or sell in this market?
Homeownership is one of these most important factors to our country’s fabric. Homeownership improves communities, increases participation, improves schools, neighborhood safety is clearly better than areas of low ownership rates and more. Take advantage of Homeownership. It helps everyone!