Let's start with strong demographics. 33% of home buyers today and for the next decade are first time home buyers with nothing to sell, taking from an already stressed market with nothing to give in return. At the other end of the spectrum baby boomers are delaying their downsizing, moving into assisted living nursing homes, or in with family due to their heightened pandemic risk, holding onto those homes younger families need. For new builders NAHB noted lumber continues to spike up with futures up another 35% on top of the already high 170% rise we saw over the last 10 months.
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There was enough inventory to break records in sales. I mean 62,985 homes in DMAR's 11 County area sold in 2020 for another record breaking year. And another 3,641 sold in February, up 13.43% month over month and 3.7% year over year. It's a days on market issue, not solely an inventory one. Homes are coming on and selling faster than you can sell chips at an edibles convention.
Is Home Affordability Gone?
4 Shorts Foreclosures, Appraisals, Pre-Qual, Pre-Approved
Investing in Real Estate in the Denver Market
Why Would You Buy Real Estate Today?
Is it Boom or Gloom for the Housing Market?
DMAR August 2022 Recession Red Flags Have Been Drawn
How Does an Appraisal Work, and Do I Need One?
Three Steps to De-stress the Home Buying Process
Where is the market heading and what does it mean for homebuyers?
What to Tell Clients About Today’s Housing Market
A Higher Interest Rate Can Save You Money
Is the FED Hurting Housing?
DMAR July 2022 - Inventory is double but it is not enough
What are three ways to get into the housing market, today?
This is an opportunity - Interest rates are down today - it’s GO TIME!
How Does a 2-1 Buy-Down Work?
Buying a Home Today - Why I Shouldn’t Rent
3 Shorts on DTI - Debt to Income Ratio.
What is an Appraisal Waiver and Can I Get One?
Why Are Interest Rates Going Up So Fast?
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