The Current Front Range Real Estate Market
We consistently publish information about the Metro Denver real estate market, including updates on pricing, sales, time on the market and more. Take a look at recent posts here. We also publish updates on our other website, Metro Denver Luxury Homes.
There are some positive trends in the metro Denver real estate market! Find out the good news.
In real estate, things can change quickly. Since June, when the median price of a home peaked, things have shifted. See how.
The percentage of sellers who have lowered their asking price is up significantly since March and looks similar to a year ago. We dive into local pricing in this week’s market update.
It can be helpful to compare our local market with the national market. National trends can show us where we may go or how we differ from much of the country. They also help give us context for what’s happening here. Let’s take a look.
Let’s get some perspective on local home prices by looking at what’s happened to median prices in the past five years in these 30 cities in Metro Denver
Price reductions are increasing. See where the most sellers have reduced prices and where prices have been reduced less often.
Increasing inventory is not moderating price increases much. Prices are up in every category compared to April. See what happened in May.
Is it better to buy now or wait? Timing the housing market is hard. Here’s why.
The Fed raised interest rates again this week in an effort to control inflation. The rise in rates, which started in March 2022, has been the fastest rise in decades. Mortgage interest rates haven’t gone up this week, though, and are lower today than two weeks ago.
Today, the National Association of REALTORS released a report that says existing home sales decreased by 2.4% in March nationwide and were down 22% from a year before. How does what’s happening in Metro Denver compare to what’s going on in the rest of the country?
Mortgage rates are lower now than they’ve been since February, which is good news for buyers – and sellers. If more buyers enter the market, sellers could see more multiple-offer situations and have more offers to choose from. In addition, buyers could enjoy lower payments than they would when rates were higher.
How does what’s happening in the metro Denver real estate market compare to what’s happening nationwide? Let’s take a look.