If I had a dollar for every time someone said, “I’m going to wait to buy because the market is going to crash,” I’d be retired by now!
This conversation? It happens all the time. Occasionally, I have it multiple times a day.
As a real estate pro in Arvada and the Denver Metro Area, I get it—making a big financial move is intimidating, especially with all the economic fear-mongering out there. The truth is that the idea that the market is about to crash is more fiction than fact.
I’ve noticed two types of people in these chats:
1. Those who are open to hearing the actual economic data and suddenly realize it’s not as scary as they thought.
2. Those who are convinced the crash is coming, armed with every sensational headline they can find, all thanks to the Great Housing Crash of 2008.
My job is to lay out the facts, backed by solid data, so you can make the call that’s right for you. Every day, I’m digging into market trends and economic indicators to give my clients the most accurate and up-to-date info.
Here’s what the data says:
Inventory Levels Are Healthy
Supply is the highest it’s been in a decade. This means buyers have options and home prices are rising at a gradual pace. It’s still a seller’s market, but we are much closer to a balanced market.
Mortgage Rates Are Dropping
Rates are currently in the mid-6% range. Economic data is softening and it’s expected that the Federal Reserve will lower interest rates beginning in September. While not directly related, mortgage rates will also follow suit. Each time there is a meaningful drop in rates, millions of more buyers can afford to buy. The great thing now is that our inventory levels have risen, which means homes won’t be gobbled-up Pacman-style like what we saw during the pandemic.
The choice is yours in the end. But before letting fear take the wheel, it might be worth chatting with a seasoned Realtor who can give you the real story based on what’s actually happening in the market—not just the hype. Remember, the best time to buy is when it’s the best time for you.
Whether you’re buying your first home or you’re a seasoned investor, staying informed is the best way to make smart real estate moves.
If you are looking for daily insight and tips on today’s market, follow Lauryn Dempsey on LinkedIn. If Lauryn can help you strategize your next steps in real estate in the Denver Metro Area or elsewhere across the U.S., please book a call!