Jan 01, 2014

December 2013 Denver Housing Report

 

 

- originally posted December 1, 2013 -

Sales declined again last month, but so did our market inventory. The net effect, was that buyers weren't able to find more to pick from, than they did during the peak of the market a few months ago.

 

With the holiday season upon us, an influx of new listings isn't likely until 2014. Home sellers just aren't in the mood. We may notice some slight 'seasonal' decline in sales numbers as December comes to a close, but the month could also end strong if interest rates ease. Last month's sales for the Denver Metro market were just over 4600 units. That rivaled sales from last March, when the market was sizzling hot!  As we've noticed all year long, the 2013 market continues to outperform expectations.

 

An increase in mortgage interest rates since summer has slowed demand, but not enough to re-build inventory, or to bring more balance the market. If demand doesn't relax this winter, our housing inventories could drop to severely low levels that we saw earlier this year.

 

There's still a great deal of uncertainty coming from our Federal policymakers. Until we have more clear direction coming from the Fed, the markets and mortgage interest rates will continue to be very volatile.

Till next month,

 

 

Average Home Price & Solds Graphs

 

 

Average Home Price, Inventory, & Days-On-The-Market Graphs

 

 

Check Out Today's Interest Rates

Today's Interest Rates

 

Get It Monthly - Average Home Price & Trends!

We subscribe to a variety of data sources that helps us evaluate Denver's average home price and trends report, for our clients. If you'd like a copy of our Average Home Price & Trends Report for Denver, simply send us the easy form below.

Originally posted at: Average Home Price And Trends Report. Data provided by Metrolist. Graphs copyright© Michael Dagner Group. All information deemed accurate, but cannot be guaranteed. Image attribution - percent - www.sxc.hu