Denver Market Update

Denver Market Update
Video Transcription

Juan Muñoz: It’s crazy how much the national real estate trends are similar to what we are seeing in the Denver Metro Area. Hi everyone. I’m Juan Muñoz with Now Properties and HomeSmart Realty Group. There has been so much talk about a recession, but the experts are now saying it’s not going to happen in 2020. In contrast, the new model states that there is only a 20% probability of a recession in 2020. Senior housing economist, Georgia Ratiu at Realtor.com, he states that housing remains a solid foundation for the US economy going into 2020. Therefore, it’s helping prevent a recession. Fannie Mae and Freddie Mac predict that more homes will be sold in 2020 that were sold in 2019. Also, both of these entities predict that interest rates will stay low for the remaining of the year ranging from 3.6 to 3.8% and that also helps to strengthen the housing economy. What we see is that nationally the inventory levels are continuing to go down and also locally here in Colorado, inventory levels of homes available for sale are going down.

So, when we have lower inventory levels, that means there are more buyers in the market than there are homes, more bidding wars, but that also means that the price of homes are continuing to go up. So, bottom line, buyers and sellers, we are in a strong housing market. Take advantage of the low interest rates that are available to you right now. Sellers, capitalize on the equity you have built. Don’t be too hazy to listen to all the hype about a recession, but actually really listen to what the experts are projecting. As always, we’re here to help. Reach out now to us at Now Properties with HomeSmart Realtor Group as we are your community market leaders and we’re here to serve.

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