Hard to believe this is my last post of February. A blizzard outside this morning; can spring be far behind? Red Sky in the morning, sailors take warning!

Because of my lengthy career in Real Estate, I’m asking you not to absorb the negativity of the mainstream media and their reporting of homeownership and affordability! It has always been expensive to own a home. The comparable costs have moved around over the decades, but long story short, homeownership is always expensive. It requires saving for a downpayment, budgeting for that monthly payment, including PITI (Principal, Interest, Taxes, and Insurance), and who will mow the yard?

Our first home was acquired during a period of 17.5% 30-year mortgage rates. When we eventually moved to an 11% rate, and then a 9.5% rate we felt like it was a tax-free raise! I’m living proof homeownership is worth the sacrifice, commitment, and joy of a Thanksgiving Dinner, Christmas Morning, Easter Egg Hunt, 4th of July, or plain old backyard BBQ; trust me! It’s a good life!!!

This week has brought us a new round of data points in the Denver Residential Market.

Market Watch

New Listing
1030 Nothing to see here. Almost identical to last week!
Coming Soon
241 This is up a little, but nothing dramatic.
Back On Market
233 Deals still dying on the vine.
Price Increase
215
Price Decrease
849 My Oh My, We still can’t price them correctly!
Pending
1234 There is a 10% jump here. A strong spring season in front of us?
Withdrawn
105
Leased
65
Closed
964 About the same here. This should be over 1,000.
Expired
162

Moving on to Total Active Listings in the 11 counties commonly considered part of the Denver Market, let’s take a look at this week’s Chart of Numbers.

With only 4,261 Active Listings, other than 2021 and 2022, this is a quite normal supply number, and maybe slightly below. Buyers just can’t catch a break!

In closing today, please keep in mind, we are here for you every step of the way…tc