The most misleading stat about the housing market is increase in inventory.The number of properties for sale is up significantly compared to last year. In most locations along the Front Range, inventory has doubled. This is obviously great news for buyers because they now have more choice. This is obviously meaningful for sellers because they now have more competition. But, it does not mean there is a glut of inventory. It does not mean that we are now, all of a sudden, over-supplied. Quite the contrary. The market is still undersupplied. There would need to be at least double the amount of homes for sale for Front Range real estate to begin to be balanced. The increase in inventory, being so large, gets a lot of attention in the media and can sometimes be taken the wrong way. Yes, inventory has doubled. But, it has doubled compared to all time lows. Freddie Mac reports that Nationally, the market is undersupplied by 3.8 million housing units. So, the increase in homes for sale is a good thing for the market and is nothing like a glut of inventory.
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Uncategorized • December 5, 2022
by Jared Foster
Uncategorized Jobs Bounce As the job market goes, so goes the housing market. This is a fact about any primary housing market. If employment is growing, the housing market will keep growing. One of the many positive indicators of the healthy Northern Colorado economy is the fact that the jobs lost during the pandemic have bounced back. Not […]
Uncategorized Versus 2019 Because 2021 and 2020 were such unique years in real estate because of the considerably low interest rates, many people in our industry believe it makes sense to compare 2022 to 2019 when looking at the key statistics. Here’s how 2022 looked along the Front Range compared to 2019: Prices Number of […]
Uncategorized Staged to Sell When it comes to selling your home in 2023, there are some best practices you should be aware of. One of them is staging your home properly. 🪑🛏🪞 According to the National Association of Realtors (NAR), “Staging is the art of preparing a home to appeal to the greatest number of potential buyers in your […]