Every week I have been posting a chart similar to the one below. It has demonstrated the Denver real estate market being in a Seller’s orientation and I have said I do not think it will change quickly, or until the new listings exceed the under contract properties.
I noticed something last week, and this is very subjective in nature, but there seemed to be more “new listings” offered at the weekly South Metro Denver Realtor marketing session than buyers needs. Not exactly a scientific measurement, but an observation that makes me say hmmm? Additionally the attendance was down enough to make me think we are going into the summer “doldrums” early this year. Why would this happen?
Well best I could figure would be the buyers are saying “to heck with it, I do not need to buy that Denver home if it is going to be this hard!”; the Realtors are going on vacation because “there is nothing on the market”; and the Seller’s may have missed the big flurry…that is to be seen in the next week. I think a seller would be wise to buck this trend this year.
Summer “DOLDRUMS”? Yes it is interesting that between July 4 and August 15 (start of school) it seems there are a large percentage of buyers on vacation, mostly due to their demographics: young families, school age kids and upwardly mobile working parents who tend to buy homes due to their increasing income. I know we see this in the south part of metro Denver and it has been the case for all 29 years I have been in the business.
Is your business faster or slower in the summer?
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