| Good Morning Everyone!
We recieved such great feedback on our Post last week with this new format, guess what? That’s it; we’re doing it again the same way!
Let’s take a quick look at what the Denver MLS has to say to us this morning.
New Listing (1144) This is a good seasonal number, not great but still good.
Back On Market (244)
Price Increase (138)
Price Decrease (1509) This is a huge number of sellers chasing to get it done by year’s end.
Under Contract (1304) This is a very strong number!
Withdrawn (178)
Leased (60)
Sold (1134) This is a good weekly number. Not great, but it is a good number.
Expired (283) When a seller gives up, this has a rippling affect.
To wrap things this week, we are constantly asked, “Is this a good time to buy a house in Denver?” For this question, let’s look back on history a bit. Elliot Eisenberg recently wrote about the “International Influence”. Writing about the DotCom bust in 2001 and the Housing Bust in 2008. Long story short, during those two windows of time, the US had an international influence on pushing the world at large toward or into recession. This time around, he’s made the hypothesis in the briefest of terms, it is possible that the global weekness today, might be the economice factor to push us into recession stateside. Could it happen, yes, but who really knows until it happens?
Let’s refine this for Denver a little. Denver has become an inovation center, a health center, a financial center, an energy center, communication center and a corporate presence headquater/center up and down I-25, Hwy-36 and in our urban centers. “This time it will be different”, because we are so much more diverse, more capitalized, more geographically dispersed and now we have such a much more sophisticated transporation system. All of this is true! But, what does it mean? Well, what will happen outside of Denver Metro, Colorado to draw us into economic turmoil? I don’t know.
Looking at the numbers each week as we do can make the analyst somewhat myopic, but I’m going to go out on a limb here. If we continue to have these rates (Historically Low), I feel this market will see price appreciation slow, but not go negative and sales activity will remain strong. This will be good for us all!
A successful move, relocation, down pricing or moving up takes planning. Jumping out of a airplan without a parachute is not healthy. The proper order and proper plan for buying or selling a home requires the same attention to detail. Give us a call, come in, spend just one house with us. Let us show you a clear pathway to a successful transition. We’ll be there for you…
Dee and Tom Cryer TheCryerTeam@Kentwood.com 303-638-3202 |
If you’re staging your home to sell, obvious tips include decluttering, cleaning off counters, and opening window blinds for more light. The goal for a staged home is to look clean, spacious, and inviting at all times. As we all know, staging a home is much more difficult when you’re living in the home you’re selling and need to make it show-ready with short to no notice. 
Whether this is your first or fiftieth fall in Colorado, get ready because over the next few weeks you’re likely to become a peeper. A leaf peeper that is. 
Fact: Housing inventory under five months is considered a home seller’s market. In Metro Denver, the month of September ended with 2.04 months of single-family home inventory and 2.12 months of condos for sale, which clearly indicates we are still in a seller’s market. 
So, let’s talk about said Black Swan. Everyone is talking Black Swan. Wall Street, Polititions, Politician and more keep referring to the deal killer just around the corner. Interest rates, energy costs, market crash, trade wars, wars, the dollar, gold, the housing bubble, the tech bubble, corporate responsibilities, go ahead, pick one! Personally, piggybacking on last week’s post, I believe it will take more than even two of these suggestions to bring us to our knees again, but it could happen.
Although we had a spike with inventory mid-year, we have observed both sales and listings move more toward a sellers’ equilibrium as opposed to a buyers’ market. I do believe we will move more toward that buyers’ market in 2020. There is just too much uncertainty. But, could you imagine a world where China offers its citizens freedom of speech, freedom of religion, commerce, and more. Just take a minute and imagine more than a billion people offered choice rather than tyranny? Imagine the growth a market like this might have…
MyTownCryer 
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