Buyers facing toughest market on record
Yay data. Wow, wild summer! Check out the total breakdown of the supply-demand dynamic (bottom right corner of the chart). The surging blue line combined with record low interest rates to drive bidding wars and record home prices.
I expect this to gradually return to the seasonal patterns of 2015-2019. The snow's coming, and nobody likes moving in winter, right? Monthly prices were roughly flat versus last month. Deceleration does not equal decline, but it is frequently a leading indicator.
The market fundamentals are still pretty strong, but so is the seasonal dip pattern. If you're looking to buy, consider a month or two (but not 7!) of patience. This train can't run away forever. #DMARstats #5280 #303 #Denverrealestate #Denver