Over the last few months, the number of new listings and active homes on the market continued to trail recent years, keeping our inventory from meeting current home buyer demand. As a result, we’re still seeing homes go under contract from 50-60% faster than last year. And when it comes to average home prices across the Denver metro area… they’ve been up by 14-30%!
What should we expect going into the last few months of 2021? Housing affordability will become more of an issue, especially if rates rise. Mortgage applications while still robust before Labor Day, are lower than 2020’s numbers. As a result, CoreLogic expects pricing growth to slow sharply across the US to around 3%.