We are most certainly in a shifting marketplace. Here’s some items to note.
Let’s start with the inventory.
- Inventory is up 188% since February 16, 2022. We are now at 3228 total units as of May 16, 2022.
- The number of new listings in April 2022 compared to April 2021 is up 5% year over year. Inventory is growing.
- The number of active listings is up 44% from April 15.2022 to May 16, 2022.
Interest Rates have risen over 200 basis points in 3 months.
Combine both increased rates and increased inventory, prices will start to slow their pace.
We are in a much more volatile real estate market than we have seen the previous 5 years.
All information is based off of market information from May 16, 2022 from the 8 County Denver Metro Area off of ReColorado.