Good Morning Folks!

So much has happened in the last week! Taken all at once, it is mighty tough to take. As Warren Zevon wrote, “Send Lawyers, Guns and Money…”. Probably not the best metaphor, but…

Let’s start with #NewTwitter. With the advent of @ElonMusk in ownership, @Twitter is not the same! I have been a @Twitter user ever since I figured out what a #Hashtag was. It does a great job of aggregating current events quickly. It allows me to follow someone of my interest. It facilitates keeping in the know. I have to tell you, it is different now. I’ve seeing search results and tweets from topics and people I’ve never seen before. It seems wide open. The wild west if you will…

Books I recommend. I am going to recommend #AtlasShrugged ’til the day I die. I believe it is that important. Many believe if you read and like #AtlasShrugged it is unhealthy. They have not read it in the context of today’s current events. #Tyrus is a book about @Tyrus written by @Tyrus. The life and times of George Murdock. Not everyone had a childhood like me, and @Tyrus has his own story. Read it. Or, listen to it, he reads his own book. Finally, J. D. Vance wrote Hillbilly Elegy in an attempt to tell his story and the story of #Opioids and their impact on an entire community. It’s a good read. Much better than the movie. And, in current events, J.D. was just elected as a Senator from Ohio. I’m not one to preach, but if one was to read or listen to these three books, one would have a much better appreciation for current events. Remember, #AtlasShrugged was written in 1957. #JeffBezos is in it, #ElonMush is in it, recognizable people in politics today are in it, and the constant friction between economic classes is in it. It’s today written in 1957.

That’s enough of me #proselytizing. This week in Denver’s MLS System, the numbers are clearly heading into the Holiday Season!

New Listing (730) “Where have all the sellers gone, long time passing…”
Coming Soon (30)
Back On Market (208)
Price Increase (149)
Price Decrease (1253) Sellers and Brokers still finding their way, but slowly…
Pending (965) A pretty strong number. This is cleaning up year end inventory!
Withdrawn (260)
Leased (50)
Closed (1035) Buyers and Sellers finding their way to the closing table.
Expired (304) A few still giving up each week.

Long story short here; buyers are still looking and making deals; sellers are slowly giving up and hoping for next year to be something bigger. Tough call on these plans. Will rates be down. Will employment numbers in Denver remain strong. Will the prevailing interest in the market stay the same for both buyer and seller? Only time will tell. Stay Tuned!

Let’s take a fresh look at inventory one more time.

Let’s check in on how many Active Listings we have this morning.

And, year over year, it looks like this with just 5,467 Active Single Family Residences.

As you can see, we ended last year with unusually low SFR inventory, but we have been normalizing throughout the year. As noted above, 5,467 Active Listings is not only a healthy number for Denver, it represents a slight opportunity for buyers. If rates were to stabilize at a lower level than today, which they could, we will continue to see Denver as one of the most healthy markets around…tc

TheCryerTeam@Kentwood.com

303-773-3399