The Denver Metro median home prices dropped 1.23% from February last year. That’s the first time in seven years that prices have gone down in February. However, this is remarkably “meh” considering inventory levels went up 47.33% year over year. This graph will give some perspective (click to enlarge):
The green line is Median Sale Price, while the blue bars are inventory levels. Inventory peaked in September 2018. Prices have remained pretty flat since that time, which means there is still a strong demand for housing.
National GDP came in at +2.9% for 2018, which is the best it has been in 10 years! This was likely a result of tax reform, which stimulated the economy. This year and next will hopefully continue to grow around the normal 2% level. However, there is the possibility of a recession before we reach the norm. Time will tell.
In case you missed it
We are excited to announce we have two new mentors joining the Invest Success team! Carl Edmunds out of the Fort Collins/Greeley area and Chris Wojciechowski from Colorado Springs have extensive experience as real estate investors. In the past, students from these areas had to commute to Denver in order to get the hands-on mentorship that our program provides. Now we can offer local guidance and an ever expanding network. Read on…
QUOTE OF THE WEEK
“Don’t let the noise of others’ opinions
drown out your inner voice.”
See you soon,
Click to enlarge image: