Recently, I was at a meeting, and I engaged in conversation with a gentleman from New York. Almost without introductions, he announced, “I’m a liberal from New York”. I asked him, “what does that mean?” He ummed and ahed, so I asked him, “Does that mean you would like to live in safe neighborhood? Would you also like ‘good schools’ supporting those home values? And, would you like abundant, accessible employment within a reasonable commute?” His answers to all three of these questions was the same. “I want all three!” Then I said, “Why do you label yourself as you do?”

He said, “I guess it is just something my generation grew up with, and I carried it on”. Long story short, there is much more #Agreement between us than there is #Disagreement. If you have been following me, you know #Homeownership is what binds us in #Resolution. Everyone wants a safe place to rest their respective heads, Everyone wants support for their home values with schools of a certain quality, and Everyone wants employment nearby.

Over the next year, 13 months to be exact, there will be an intense media burrage trying to divide us. #Homeownership is the key to good neighborhoods, good schools and jobs nearby. Communities with strong #homeownership have lower crime, more voters and stronger schools. So instead of buying into the divisive rhetoric, support #homeownership. Support the mortgage interest deduction, support first time homeownership pathways of down payment assistance. Discourage Wall Street’s overreach into our residential markets sweeping inventory out of reach.

I guarantee if we were able to move the gauge of owner occupancy from 60-65% to 70-75%, so many things negatively affecting some of our communities would turn toward the positive. Strong communities, safe communities, communities with quality schools and communities supporting job growth are safe are communities with a high owner occupancy. This is in our census data. It is real. We all want a secure investment in our homes. It’s not a #Red or #Blue issue, its good public policy. Get to know your candidates on both sides of the isle. Support the candidate supporting all aspects of #Homeownership. Our world will be a better place for it.

Now, let’s see what the Denver Residential Market Watch did over the last 7 days. These numbers only represent Single Family Residences.

Market Watch

New Listing
1247 This is another strong week for New Listings!
Coming Soon
171
Back On Market
279
Price Increase
500
Price Decrease
1570
Pending
1036 This is only average. This looks like a continuation from last week.
Withdrawn
205
Leased
83
Closed
966 Although a recessive number from earlier weeks, this clearly not an indication of a failing market.
Expired
222

From the above we clearly have an indication of growing supply and slowing declining demand. Now, let’s take a look at Total Supply of Active Listings over the last 10 years.

Although, we are witnessing the typical “rounding off” of the number of Active Listings, we still have a month or more before we can say 2023 is in line with years past. WE still look much better than Pre-Covid years, and 2021 and 2022 are identifying themselves as market anomalies. I could easily report, “Nothing to see here”, but something is going on, but we will have to wait to confirm it.

Please follow along and share with your friends, family, associates, Aunts and Uncles. Thank You…tc