The second half of May seemed to open up a bit. But, sorry, it was a false peak. Less inventory came on the market and more buyers went out looking for it. Inventory was down 6% from last month, and down 14% from last year inventory.
6718 homes went under contract, which was up 17% last month, and up 3% from last year.
Active listings dropped last month. In fact, there was a 20% drop and inventory fell below 2000 homes for sale the second time this year. Listings are spending and average of four days on market.
You have to be ready to pounce, offer 30K over asking, without any contingences and ready to close in 2 weeks.
26% higher close - higher end homes.
23% higher close -medium priced homes.
$700,000 average closed price detached.
We are nowhere near the peak. Same with rates. Rates turned up mid-month.
Inflation jumped 4.2% - the highest in 13 years. Core inflation jumped to 3%. This was the highest monthly gain - EVER. Get the rest of the insights by listening to this 9 minute episode. More false peaks are expected.
Denver Metro Market Trends July 2020 - Get Those Sellers Moving
Lower Interest Rates Have More Benefits Than You Realize
Competitors aligning, fun with your team and riding the wave of change.
Colorado New Home Construction Trends and Recommendations
Your first real estate investment, it really is that easy.
Deeper Conversations Lead to Stronger, Longer Business Relationships
Offer Safety and Security, Not Bricks and Sticks.
Denver Metro Market Trends June 2020 - Whose Market Is It?
Back to Basics to Build Your Long-term Value to Your Clients
The Market is Rebounding
Real Estate is Essential, Realtors are Not
Forbearance Waiting Period Issue Solved Through FHFA
Stop Pivoting and Double Down on Who You Are as an Agent
What to expect in Q3 Since Our Usual Upswing Isn't Happening
What you weren't told would be the results of that forbearance that was so easy to get.
Buyers and Sellers are Ready, but on Their Terms
An Agent Using Change as the Opportunity to Gain Market Advantage
Agents let your list know, I'm here, I'm informed, I'm an expert.
5 Agent Tips to Keep Your Edge and Your Humanity
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