Did you know that Denver Housing Sales are Down 23% as we checked on the number of homes sold so far in 2023 compared to 2022? Why would you care? Does this impact you? Whether you are someone looking to get into the Denver real estate market or if you are looking to sell your property.

First, let’s clarify that the number of houses that have been sold so far in 2023 is 23% fewer than 2022, not the sales price being down 23%.

Why would you care if the sales are down from last year?

If you are thinking of selling your property this is a good piece of information to know. You have less competition than you would have had a year ago. Our inventory is up slightly from last year but not by much and we have more buyer demand than we did last year. Last year the interest rates scared the buyers, this year everyone needs to buy a house and they do not care about the interest rate they need to move.

Does this impact you?

Yes, if you are thinking of buying, you need to get focused and ready. When the right house comes on the market you need to be ready. This is what you need to be ready.

• Understand the Denver Laws and Rules when purchasing a home.
• Understand financing if you need financing.
• Understand where and what type of properties you want to look at.

Denver housing prices may stay flat or decline for the rest of the year

We are moving into the last half of the year and this is when the prices normally stay flat or decelerate the appreciation we saw at the beginning of the year. You might hear someone say it is the retraction period. If you are losing your house we will talk about not pushing the price, because the deceleration of appreciation has settled in.

People are and will continue to move every day. They have life events that cause a reason to need to move. They get married, have babies, get promotions, or make job changes, kids move out, and people die.