Good Morning Blog Friends!

Dwelling Deficit/Something to Ponder

“Between 2000-2010, the housing stock rose 15.8 million and the number of households rose 11.2 million. Thus, vacancies rose 4.6 million and the vacancy rate rose 2.4 percentage points. There were plenty of houses. Conversely, between 2010-2020 the number of units increased just 8.8 million, but the number of households rose 10.1 million, resulting in vacancies falling by 1.3 million and the rate falling by 1.6 percentage points, a housing shortage.” 

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Elliot F. Eisenberg, Ph.D.

#Happiness can be learned. You personally control at least 25% of your happiness. Learn the behaviors necessary to achieve it. #Hint: Don’t take your phone to the bathroom with you…

Your #MentalMapofReality is important too! Do you have a Map? If not, find one!

With these ideas out of the way this morning, let’s jump right in. What did Denver’s MLS look like over the last 7 days. Compromised by a long weekend and the beginning of “summer”, did we suffer some lag in the market. Let’s look!

New Listing (1369) This is a good number. This reflects no loss from the long weekend.
Coming Soon (240) This too is strong!
Back On Market (269)
Price Increase (189)
Price Decrease (1155) Wow!!! This is HUGE. This market requires the right bait!
Pending (1284) A good week!
Withdrawn (191)
Leased (93)
Closed (1588) WOW! End of the month strength here, Buyers and Sellers finding their way to the closing table in spite of all the #BlackSwans!
Expired (364)

Rain, Strong Demand and spring holding on. It’s never been this green over the last 30+ years. Just look at this! And, I can argue, this is a great market for buyers and sellers too!

This is not Ireland, it is the Mile High City of High Desert Plains. All the reservoirs will be full this year!

Now, let’s look at the number of Active Listings over the last 10 years and see how the “Mile High City” is fairing.

With just 4,485 Active SFR Listings in and around the Metro Denver Residential Market Place, this is lower than last week, and still lower than 8 of the last 10 years. Take a look!

This is another strong May into June Season. Let’s not forget how seasonal swings in the marketplace will affect this market in the months ahead. We should start to see Active Inventory climb over the next couple of months. Buyers, pay attention to this!

As always, this is only a snapshot into Denver’s single family residential market. Let’s keep a close eye on this. We’ll be here for you to deliver your #happiness and help you with your #MMOR. Thanks for being there with us, and I’ll be back next week…tc

TheCryerTeam@Kentwood.com

“Jump in, the water is warm…”