We are finally through the presidential election and the real estate market can get back to business!

There was an obvious slow down in market activity due to the spike in rates and this lack of activity may have been blamed on the election, but the data shows that this is simply not true.

Our resilient market surprisingly picked up in the categories of properties pending and properties closed. These increases are reflected month over month, and more importantly year over year.

Sellers that are not getting their asking price have removed listings from the market, and will wait for a more favorable time to sell. Forecasts call for a 2%-3.8% increase in home prices over the next year. Will the Denver market set the pace, or show a decline based on the many years of breakneck growth, and diminishing affordability? Only time will tell.

Buyers continue to be bound by this very volatile interest rate environment, as the 30 fixed rate has skyrocketed leading up to the election, and beyond. As of today there has been a 17% increase in rates over the last few weeks. Current rates have receded "down" to 7.05%. This volatility in rates is likely responsible for the true pulse of the market, even over seasonality, or the election cycle.

Our firm has experienced this in the past, and helped our clients forecast and navigate this uncertainty to their advantage.