As 2022 winds down and December comes to end, it’s always a great time of year to pause and reflect on the good, the bad, the comfort we felt, or the struggles that we have overcome or are currently battling. It’s always helpful to find a community that you can celebrate and share burdens with, so it is my hope that you have found one this year – whether it is family or friends, online or in-person. I am thankful for those in my life and wish you all a Happy Holidays! If you would like to chat, don’t think twice, just pick up the phone and give me a call – I’ll be happy to talk about anything you may need!
Market Insights by DMAR:
• A Denver City Council committee approved a series of measures that city staff say will accelerate a long-planned bus rapid transit line on East Colfax Avenue. The project is now slated for completion by 2026, 18 months sooner than originally planned. • The National Association of Realtors®’ annual Profile of Homes Buyers and Sellers showed that first-time homebuyers made up 26 percent of buyers, down from last year’s 34 percent – the lowest share of first-time buyers since the data collection began. The report also showed that the typical first-time buyer is now 36 years old, a new all-time high. • After months of declining to flat week-over-week mortgage purchase application data, November saw four consecutive weeks of increasing demand. • As of November 30, 57.4 percent of active listings reduced their asking price, up from 31.7 percent last year. • Average active listings for November are 13,858 (1985-2021). • The historical average decrease in active listings from October to November is 12.83 percent. This year’s 14.22 percent decrease represents a marginal change from our seasonal expectation.
Real estate questions? Wondering how the market looks at the moment? Just want to say hello? Don’t hesitate to call me – I’d love to chat! Don’t forget to follow me on social media – click on the links below!