By now, everyone on Earth following college football understands that we are now living in #PrimeTime. I root for 5 college teams: Alabama, Oklahoma, Colorado, Duke, and Notre Dame, and this week, I had a clean sweep, including Colorado, which went 1-11 last season. Coach “Prime” has sold more cowboy hats in the last week than anyone in the history of cowboy hats! Boulder is once again alive with football fans.

As I sit on my front porch composing this post this morning, I’m reminded why I live in Colorado, AND, IMHO, it is a good life! An image is worth a thousand words!

#Optimism is subjective. One person’s level of optimism is another’s bane of existence, and vice versa, right? Anyway, I follow about 8 news aggregators, and 4 of those religiously. When one is down, another is up. With all these crazy events going on, I can tell you a few things. WE are more alike than different. This truth will never fade. This does not mean we won’t have wars, economic events, and reshuffling, or the “great reset,” as is so often employed to describe our future. This is why #Homeownership is so very important. Societies, countries, and individuals vested in homeownership have superior outcomes. It is a fact.

I have wrestled with this last thought a number of times over the last few years. Will it be different this time? I’m torn. From all the sources I follow, I can argue Armageddon, and I can argue for an extremely positive future. Compromise will have to be employed, but this may even speed these #differentthistime times. Let’s jump right into the last week in Denver MLS System.

Market Watch

New Listing: 975 new listings. The count is dropping just as I have been predicting.

Coming Soon: 248. This is way up over last week, but not enough to make the market move.

Back On Market: 263.

Price Increase: 388.

Price Decrease: 1131. This continues to be the clearest sign that we are seeing a market shift.

Pending: 1077. A solid week. It bodes well for the inventory trend when contracts are more prevalent than new listings.

Withdrawn: 239.

Leased: 72.

Closed: 1112. Another solid week. Buyers and sellers continue to find their way to the closing table!

Expired: 523. Now this number is up substantially. Sellers are giving up. Move-up sellers are locked between their perception of value, current interest rates, and razor-thin inventory.

How does all this look on an Active Listing Graph?

With only 5,859 active listings in the 11-county Greater Denver Metropolitan Area, it is readily apparent that our supply is way down from last year and is one of the lowest in many years. Interest rates have not forced this market into oversupply, and we could argue that it resides in a shortage.

Let’s follow this closely. As we move into the fall and winter months, it will be interesting to report back to you. In the meantime, we are here to interpret this market for you every day. We continue to bring the most relevant inventory to our buyers’ attention and the most current market trends to our sellers. Lean on us. We will be there for you every step of the way… tc