A Short Review of 2018 & Real Estate Forecast for 2019

What a year 2018 was!  Inventory was very low in the first half of the year and sellers were seeing multiple offers and rising values.  A few key things happened in the second half of the year so we saw a bit of a change.  Inventory went up, interest rates were raised (probably more than they should have gone up) and of course we had the holiday season among us.  With that being said, we have seen a good start to 2019!  Inventory is slightly up and there has been a slight correction in interest rates which is appearing to make buyers happy.  This should be a good year still for sellers as average price of homes is still expected to appreciate. However, buyers may see some relief as a little more inventory should be available,  DOM (Days on Market) may be a little longer and interest rates should remain low.  I expect to see the most inventory in May but the start of the selling season will hit in February. This is a summary of the Greater Denver Metro Area only;  many neighborhoods and areas are unique in their stats.  If you are curious to know the latest stats in your specific neighborhood please text “Neighborhood Stats” along with your specific neighborhood name and your name to 720-299-6612.

 

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