LendingTree just released an interesting survey. It found that homeownership is still a goal for most Americans. In fact, 88% of us would rather own a home than rent. Renting has benefits, but people prefer to own because of the stability it provides, the added space that often comes with it, and the pride of homeownership.
Our shortage of homes and affordability issues have resulted in more demand for rentals and a move toward lower-density areas further away from downtown Denver. Buyers are also shopping around for the lowest interest rates more than they have in the past..
Inventory is still low. Back in August 2006, there were 31,664 properties on the market. It’s hard to believe, since this August there were just 3,582 – a record low for August. Our August average is 16,243, so we were well below that. Interestingly, from July to August, listings decrease an average of 0.46 percent. This year, that decrease was 11.69 percent, the second-largest month-over-month drop ever.
- Average Closed Price: $614,577
- Median Closed Price: $535,000
- Closed Homes: 5,618
- Average Days in the MLS: 11
- Active Listings at the End of the Month: 3,582
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Trends in Metro Denver
- Home Prices
- How Long It Takes to Sell a Home
- Prices Per Square Foot
- Showings Until Pending
- Active Listings
- New Listings
Real Estate News
It Took Homes 11 Days To Sell In Denver In August. That Might Be A Sign That The Market Is Slowing
House Hunting: Is This Price Right?