The Market

Let me share some insights that, perhaps, you might not have considered in regard to YOUR home ownership.

Now, I hear that a lot of folks say they are waiting for the "bottom of the market".  You might have heard me say on the radio that the market is not the buyer's market that everyone thinks it is.  In fact, the market is incredibly different than you would expect. 

The data I see (shown the national/local chart below) indicates Denver hit its peak in about August/September of 2007 and has been making inroads despite the national mortgage crisis. Now, I am not offering an oracle's view of the future as nobody knows the future; however, there appear to be many market indicators that indicate fundamental strength at this point in time:

•·        Decreased supply

•·        Increased demand

•·        Favorable interest rate environment compared to historical levels

Here are some charts to show how the Denver Market is looking compared to the national market:

Source: National Data - National Association of Realtors®   Click here for data location

 Source: Denver Data - Based on information from Metrolist, Inc. for period April 4, 2008, until May 2, 2008.

Note: This representation is based in whole or in part on content supplied by Metrolist, Inc. Metrolist, Inc. does not guarantee nor is in any way responsible for its accuracy. Content maintained by Metrolist, Inc. may not reflect all real estate activity in the market.

Here is how that difference of inventory impacted price appreciation (statewide) compared to the rest of the US.  Colorado is at 1.4%, only 0.6% from being a light blue shaded state at 2.0%.

Do you think this means Denver is doing better than the nation?  Do you think the national media really have an accurate picture of our market?  What is the data telling you?