What is Happening in the Real Estate Market? | DT Properties in Denver Metro Area CO
Hey, everybody. It's Dan Turre here, because we keep getting asked the same questions.
- What is happening in the real estate market?
- How does it compare to 2020, where we're at in 2021,
- And what's it going to do in 2022?
If you want to see my deep dive into these questions, you can watch the weekly podcast on YouTube. As we all know, 2020 was wild in many different ways; it was no different for the real estate market.
As we shut down last March and April, things just came to a screeching halt, because nobody knew what to do.
But, as we started adjusting past that, it was completely chaotic, so many buyers that wanted to move here - wanted to relocate, because they realized they hated their houses, or didn't like where they were and were working from home. And so it created just a frenzy of buyer activity.
Much of 2021 has been kind of the same, and we've seen significant appreciation depending on where you're at inside of the Denver real estate market.
But since the 4th of July, it's kind of slowed down a little bit, and normalized - which is a really good sign.
Our sales season and our sales cycle for real estate is: as you approach the end of summer and into fall as school gets back in session and people take vacations and stuff like that activity slows down a little bit.
And we've seen that as we've approached the fall, and as we go towards the holiday months, that will probably continue.
And it's showing signs that it will. That's not to say it's not a seller's market, because it still is.
There are only three weeks of inventory right now, and that is the same amount of inventory we had this time last year.
But I do see a little bit of a slow down of buyer activity and showings as 2022 approaches.
Probably slow down a little bit more just because interest rates are probably going to go up a little bit more, which impacts buyers' purchasing power.
It is still a seller's market. Rates are still at historic lows. Just the activity is closer to more normal rates.
Hope everybody has a great day! You can also catch the full video here.
- Dan Turre