Hello again, Friends! I hope you’re enjoying the lovely June weather in Colorado. As we transition from Spring to Summer, there’s an abundance of activities to explore both in and around the city. Don’t worry, I’ve handpicked a couple of featured events for you this month.
Now, let’s talk about the housing market. In June, inventory rose by 13.16%, following the seasonal trend. However, the demand for homes in the Denver metro area remains high, and we still need more inventory to meet the needs of our community. While April saw a decline of 6.1% in home sales compared to March, this trend is expected to change as we enter the busiest time of the year.
Local Events| Denver
Denver PrideFest Denver PrideFest, a two-day festival that attracts visitors from all over Colorado and the Rocky Mountain region, with an impressive estimated attendance of over 535,000 people in 2023! The weekend starts with the exhilarating Pride 5K on June 24, followed by the two-day Denver PrideFest held at Civic Center Park.
Art Crawl: Messy Art Making
The Art Crawl at The Clyfford Still Museum is a
great place for you and your baby to experience
art and find community with other families with
infants. A Museum educator will lead caregivers
with infants (newborns through 14 months) in a
crawl through the galleries. Share the experience
of art with your baby and socialize with other
caregivers on Sunday 6/18/23. Click Here for tickets as they will be limited.
Market Insights by DMAR:
Major coastal cities are experiencing significant loss of college-educated workers, most moving to next-tier cities like Phoenix, Atlanta and Denver.
House payments hit a new high as mortgage rates jumped due to progress on the debt-ceiling deal. Daily average rates hit 7.12% on May 25-the highest level since early November.
In May, ADP private payroll increased by 278,000 jobs, annual pay was up 6.5 percent year-over-year, job openings went back up to 10.1 million and weekly initial jobless claims only ticked up. These are all signs of a resilient job market and headwinds for a Fed rate reduction.
Average active listings for May are 14,895 (1985-2022).
The record-high May was 2006 with 30,457 listings and the record-low was set in 2021 with 2,075 listings.
The historical average increase in active listings from April to May is 7.05 percent. This year’s increase of 13.16 percent represents a healthy increase but far off from our record 26.8 percent in 2019.
Featured Local Business| Denver
Featured this month isEdward Jones. Whether you’re just getting started with investing, nearing or living in retirement, or somewhere in between, I’m happy to partner with you to identify what your best path forward may be. Reach out toJustin Killewald at (303)-986-1478 or email@example.com for more information.
If you’d like your business to be featured in a future Newsletter, give me a call or email!
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!