Are you interested in the real estate market in Denver? Then you should definitely check out what Dempsey Group has to say!
As a leading real estate team, we pride ourselves on our ability to provide clients with comprehensive knowledge of the local market and national economic picture. No matter what the market conditions are, we always find opportunities for our clients, help them achieve their real estate goals, and become their local economist of choice throughout the process.
Recently, Dempsey Group Team Leader Lauryn Dempsey spoke with The Wall Street Journal about current market conditions in Denver (read the article here). Lauryn shared the bottom of the market is behind us across the Denver metro area. Over the past few months, home prices have been appreciating month-over-month locally. Although prices are still down from their spring 2022 peak pricing, we’ve gained lost ground these past few months.
Inventory has risen since last spring, however, we still do not have enough homes to meet demand. Home prices have relatively held high in spite of high interest rates due to the low inventory we continue to see. There are signs inflation is easing, and since mortgage rates and inflation are closely tied, we expect rates to begin dropping in the coming months. Lower rates are expected to bring buyers back into the market who have been waiting on the sidelines for nearly a year now. With more buyers predicted to enter the market in the coming months, home values will continue to appreciate, likely at a steeper rate than experts predicted earlier this year.
If you’re interested in keeping up with market updates and trends, make sure to subscribe to the Dempsey Group newsletter. With our expertise and knowledge of the real estate market, you’ll be hard-pressed to find a team that’s more knowledgeable or savvy to set you up for success.