Jennifer, an investor in markets across the country including Denver, Tampa, and Indianapolis stated “The latest report for Denver shows house prices remain strong and inventory low. Combined with low-interest rates and that we are moving into the summer I’m excited for the next 6 months. Add to this Governor Polis lifting restrictions and I am quietly optimistic for the housing market in Denver and in fact nationally.”
What is happening in the general Denver and Colorado area that may influence the housing market overall?
On May 27th, 2020 Colorado Governor, Jared Polis is allowing restaurants to reopen. Bars that do not serve food will remain closed. Eric Hyatt, the owner of Angelo’s Taverna in Denver’s Speer neighborhood, said he and his staff are thrilled to serve inside again, though operations will be different. I’m happy with what they came up with. They’re keeping myself and our staff safe, first and foremost.” Passerby Tania voiced her excitement, “It’s great to see things opening up, hopefully, people can start earning again and life can go back to normal. Also, I’m just excited to have something different than my husband’s fried rice!”
Housing Market Review – “Can I sell my house right now?” “Should I buy a home right now with the uncertainty?”
These are 2 questions we have been asked on a number of occasions over the past 2 months. So we presented them to Sergio
Can we draw conclusions as to the effect COVID-19 has had on the housing market in Denver?
Most real estate experts are continuing to say that it is still too early to draw conclusions.
Key Points for Denver’s Single Family Home Market Report – May 2020.
Key points drawn from the numbers, and news released, are as follows:
- Inventory is still very low most likely because people are still uncertain.
- The low number of sales is directly proportional to the low number of listings.
- As restrictions continue to be lifted, businesses will begin to return to normal, which should see an increase in housing market activity.
- Buyers should consider the historically low-interest rates when considering the purchase of a new home.
- If you are unsure of market conditions talk to a knowledgable real estate agent in your area.
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Check out some experts thoughts on current market conditions and what the latest report meant for them
Question: What is your overall feeling of the future of Denver’s housing market for the foreseeable future?
Answer: “Cautious optimism”
Question: How would you summarize the latest numbers that were released?
“Obviously prices didn’t shoot up as they have in previous reports but despite this homeowners should see that there is not an indication of a significant price drop.”
Question: “Has COVID-19 affected the housing market in Denver?
“It is hard to think that there will not be some impact. Time will certainly reveal more, but I suggest being patient and look at the numbers before drawing conclusions”
Question: “Does the media portray the housing market accurately?”
“Headlines as they can be miss-leading”
Is Denver, and the US house market generally a good place to invest?”
“I still believe the US housing market is a great investment and a slight softening could present some great buying opportunities”
If you have found this report to be of interest I would invite you to share it with your network.
About the Author.
Hi, My name is Shaun.
I am passionate about learning, innovating and I love helping people. Real estate investing lets me do all of this.
There are so many adventurous avenues in Real Estate for me to explore. There are also many practical ways to help the community by providing houses for people to call home or by teaching people the many options and ways they can benefit in the world of real estate.
My mission is to grow communities by providing people opportunities to make a great living, places to live and ultimately providing security and options for themselves and their loved ones.
You also have an option to leave a comment. I will be sure to reply.
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