The Denver real estate market is in full bloom. Inventory is growing, but sellers still have the upper hand in most neighborhoods. Statistics indicate that sellers are more willing to make a move, and the effect of the “Golden Handcuffs” of low rates is wearing off. Life marches on, and sellers are willing to tap their equity to accommodate their lifestyle needs.

To the benefit of buyers, inventory is 30% higher year over year, and increasing monthly. Even with fewer homes hitting the market, there are more listings to choose from. We are continuing the trend towards a more normalized market, but still have work to do. Each nominal drop in rates creates a surge in mortgage applications. The lower days on market (40) month over month are due to a dip in rates in February. More inventory and lower transaction times point to a market that is heating up. Freddie Mac is quoting 6.82% on a 30-year fixed mortgage.

News of a National Association of Realtors (NAR) settlement is dominating headlines. There is plenty of misinformation in the media. Buyers want to know if they are going to have to pay out of pocket for representation, and sellers want to know if they get a pass on paying buyer agent commissions. We have answers on how this could impact you.

Whether you are planning to invest, buy, or sell, working with an experienced advisor will help you tune out the noise and focus on how to best take advantage of this market.