**Graph from National Association of Realtors**
Industry experts are starting to see signs that may indicate that the real estate market is starting to cool down a bit. Some buyers have been sitting on the sidelines because they have been getting squeezed by increasing mortgage rates and prices climbing faster than incomes.
National homes sales dropped in June for the third straight month. New home sales are the slowest in the last 8 months. Inventory of homes for sale is growing along with the number of days a home stays on the market.
I monitor a subdivision known as Cherry Creek Vista in the Denver Tech Center. Earlier this year there were weeks when there were 0 homes Active on the market. As soon as a home hit the market it went Under Contract. There are now 17 homes on the market there and the average number of days on the market has climbed from 5 days to 34 days.
All of that is positive news for the buyers that were reluctant to join the bidding wars. A cooling real estate market is a more stablized and more sustainable market.
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Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service