Originally posted on my Denver real estate blog at:Denver Real Estate Stats | South Denver Suburbs
The economy remains a struggle. Unemployment needs to improve as well as consumer confidence. These are all facts of life in the current economic landscape. Housing is generally a concern for many and maybe the way to start getting us all on the right track.
Real estate statistics can change almost as often as they are run. I won’t be too Polyanna-ish, but if you look at the chart of the most recent month’s activity in the South Denver Metro area, there is a lot of red and yellow areas. This indicates a pretty balanced level of inventory and in many areas, a seller’s advantage.
Of course, homes inventory overall is down a bit and values still struggle, but on a positive side this isn’t a real estate market where most seller’s languish on the market and feel the need to give in to the “buyer’s market” mentality. That is, of course, if they are priced correctly in the first place. If a seller is overpriced in any market, they cause their own issues. With most areas balanced, sellers can expect to remain on the market for a reasonable amount of time and buyers should expect a reasonable and fair price for the home. Interest rates are still very favorable, but creeping up a bit lately. For buyers waiting for the further price declines, don’t forget the cost of financing in the overall scheme of things. It can often take a large price decrease to make up for the extra cost of just a small rate increase.
The Denver Real Estate market is pretty good. If you would like a more detailed look at your own home’s value or if you are looking to buy, please contact me I would love to help.