March Madness
Denver’s Spring Market Is Almost Here
Denver Real Estate Market Update: March 2023
It’s no surprise that DMAR’s February data showed new listings for detached and attached homes at the lowest levels since 2014. With the stability of homeownership in contrast to the current volatile market, it makes perfect sense why many potential home sellers are hesitant to jump into a changing environment.
Interest rates can impact the market significantly, but it’s important to remember that homes are still in demand. Pending home sales are one excellent indicator of this. Some are ready to jump in, hoping they can refinance when rates subside. Others understand the long-term growth potential of real estate and may not be too deterred by the current rates. No matter what the reasons are for buying, it’s clear that people still see the value in homeownership. It just might take more research and preparation to ensure you’re ready for the best possible outcome.
The market is strong for sellers, and with the number of mortgage applications being so low, active and informed buyers know they have an advantage in a less competitive market. Let’s see where we are in mid-April, market activity might pick up!
My goal has always been to have happy, informed clients. If there is anything you need or any question I might be able to answer, please let me know. I’m always available by phone or email!
