Market Outlook

What does your intuition tell you about the local market for 2012? No one knows the future but if the past is any indication 2012 could be a swing year for Denver housing.

February 1990, Denver was experiencing one of the worst oversupplied real estate markets in history (that says a lot for a boom and bust town). In March 1990, without obvious external factors, people started buying homes. By July 1990 the local market had shifted 180 degrees, the "shadow inventory" disappeared,  and the resulting undersupply of housing began driving prices higher.

Today consumer confidence is showing signs of upward trending (up 9.3 points from November), manufacturing is increasing, unemployment, although still high, appears to have peaked, and housing inventory is low. 

 According to Metrolist, inventories are down 30-45% and solds have increased around 15% year to year.

For all those buyers and sellers who said "I'm going to wait until next year", the time may be now!

The only certainty is that things never remain the same.