The market is “half full”
Denver metro home sales declined in November, by a lot. 17.27% from last month and 23.60% compared to last year. You would expect prices to mirror the decline, but they didn’t. Instead, median prices have risen by 5.33% from this time last year. Another interesting statistic is that there are 46.76% more houses on the market than last year.
What we are experiencing is a shift in the market. How you feel about the shift depends on your perspective, and perhaps your ability to adapt to change. Even if not officially a Buyer’s market, all of the changes are in the Buyer’s favor. Keep this in mind as you list property.
For more insight into the 2019 market, check out this national forecast. The overall outlook is a stable housing market, which is good for everyone.
What do you do when you can’t afford to live in your city? Move to a more affordable city and change it to be more like your hometown. That’s what the Californians did to Colorado and now, apparently, Denverites are doing to small town Colorado and Midwest cities. Kansas City’s East Side neighborhood has become a popular destination for young Denverites looking to relocate; so much so that “Denverization” has become a part of the K.C. lexicon. (Bonus points to anyone who scores a “5280” address in your new town.)
QUOTE OF THE WEEK
“Whenever you do a thing, act as if the world were watching.“
See you soon,