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The Latest Real Estate News and Information

Market data through January, 2024

Hi ,

The new year is off to a good start! Some early highlights include lower mortgage rates, increasing inventory, faster sales, and continued optimism for 2024!

Have you heard anyone talking about a new kitchen, bigger yard, downsizing, or just a crosstown move? Whether it’s a friend, family member, or colleague looking to buy or sell a property, I’d love to assist them.

Could you kindly introduce me to anyone in your network who might benefit from my five-star rated real estate services? Your recommendation would mean a great deal to me.

Thank you for being part of my real estate family! Please feel free to reply to this email or give me a call if you have any referrals in mind.

Best regards,

Todd Holmes, Broker Associate, Realtor®

RE/MAX Alliance - serving the Denver Metro Area

Mobile: (303) 570-3419

Email: [email protected]

Web: http://www.toddholmesrealestate.com 

Five Star rated agent serving clients throughout the Denver metro area!

January Market Report: Inside the Numbers

The data is pointing to an active Spring real estate market. Interest rates are stable and projected to decline slightly through the coming year. Inventory, while stable now, is expected to rise seasonally in the coming months. After a slow Fall season, the early indicators suggest an active buying and selling season.

If you have any questions about this data, please contact me or shoot me a text message - I’d be glad to help!!

The Details: Rates, Inventory, New Construction

Mortgage rates averaging around 6.63%

Mortgage rates have held in the mid 6% range for the start of the year after declining from near 8% last year. As rates decline, housing becomes more affordable and the buyer market grows. This is great news for both buyers and sellers as we move into the new year.

Looking ahead, experts are predicting mortgage rates to hold in the 6% range. Buyers are still looking for short term rate buy down terms to help with home affordability. With these programs, buyers still need to qualify based on the current market rates but a buy-down can really help lower your payment in the first year or so (and hopefully we’ll see some rate declines in the coming years).

Inventory Remains Flat

Inventory remains flat year over year and from December to January. With lower rates, buyers grabbed the current inventory and homes under contract increased by a whopping 47% from December to January! Low inventory… low rates… and pent-up buyer demand led to this significant data point. Inventory is likely to increase seasonally so I am not expecting dramatic increases in the coming months.

Sales were brisk in January, but buyers are still looking for ‘move-in-ready’ homes. Sellers should plan ahead and make home improvements to improve chances for a fast sale at a top price. Other suggestions include staging, de-cluttering, and working closely with your agent (me) to market your home.

New Construction - I Can Help Here Too

New homes are a significant part of the market and should not be overlooked. While real estate inventory continues to lag behind the population growth in the Denver area, new construction is a viable option for home buyers who can’t find what they are looking for in the resale market. Do you have questions about this? I am an experienced agent and help clients with new construction every year.

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What $600k Buys Around the Country

I’ve prepared a report that shows current listings in different cities around the country, all priced at exactly $600,000. We all know that location is the most impactful factor in real estate. When you look at what you get for your money in different locations, you can see how home ownership can be attained by everyone!

Are you thinking about a cross country move? Not sure how to find an agent? Make your first call to me. I will need to know a few details about your plans and I will find a few experiences agents that specialize in your target location. You can interview them and see who is the best fit - much better than a google search!!

Anyhow, click on the link below to open the FREE report.

FREE Report - $600k Listings

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