How quickly have things changed in the Denver Real Estate Market. Overnight.
Inventory is now up almost double – 94.1% from June 2021 to June 2022. “Well, it’s about time” is what we should be saying if we are buyers. Is that really what buyers are saying, when interest rates are choking their budgets now? Maybe they’re now saying “I’m only going to buy if it’s a deal or the Sellers pays for other concessions.”
Sellers – take advantage now and get it sold if you’re thinking about it. It’s a bird in hand. Prices haven’t dropped… yet. Who knows if they will. But if interest rates continue to go up and a recession hits, we are almost surely heading into even higher inventory and eventually a – dare I say it – Buyer’s Market. Only time will tell.