The Denver Metro Housing Market has been evolving over the years. While the metro area of Denver is mainly a seller’s hotspot, the report of November 2021 implies an abrupt drop in the inventory of housing, as more and more people are buying and selling homes quite fast.
As per reports of DMAR during October and November, there was a noticeable drop by 33.41% in month-end inventory activity that nosedived to 2,248.
Currently, there exist 1,444 single-family properties that are detached and 804 attached properties that are up for sale throughout the Denver Metro Area. More on the housing market in the paragraphs that follow.
Denver Real Estate Housing Market Forecasts and Trends 2021-2022
What are the forecasts of the Denver Real estate market for 2022? Denver has long held one of the best track records for real estate investments in the United States. Denver’s strong economy allows buyers to incur more on housing, thereby increasing the price of real estate.
The value of homes has increased so much over the last few years that not everyone could afford a property, especially for individuals earning the median income in these areas. In 2019, there was an appreciation of homes by just 1%.
Let us find out more about the Denver housing market forecast for 2022 here. The forecast is until October 2022. The prediction is that there will be a shortage of supply, and a subsequent increase in housing demand from the new homebuyers will further raise the price in the next year. And if the mortgage rates continue to remain low, it will boost homebuying activity and cause the price to go up higher.
This is the best opportunity for the sellers to put their homes up for sale in Denver. The cost of homes is trending higher and is attracting sellers in the current prevailing conditions.
- In Denver-Aurora Lakewood Metro areas, the value of homes has escalated by 22% over the last year, and as per predictions, it will rise by 18.2% in the next year.
- As far as Colorado housing market forecast 2022 is concerned, the typical home values in Colorado considered statewide are presently holding at $522,970. The value of homes has surged over the last year by 21.9%, and it is expected to continue to do so in the next 12 months.
In a nutshell, we can say, depending on what you are, whether a buyer or seller, these figures might work positively for you or prove to be negative. The lower mortgage rates can help buyers if the price continues to remain flat in the current year.
If the real estate market is stable, it takes around half a year for the supply to oscillate and become zero.
