April Mortgage Trends Insight | Guest Post
The housing market may see its best homebuying season in years this spring. What we might find is that the recession ends before we knew it began.
The housing market may see its best homebuying season in years this spring. Of course, there is still a lot of talk about a pending recession but when we see trends like falling mortgage rates, rising home inventory and slowing price growth, we might find that the recession ends before we knew it began.
A strong economy is supporting our stable housing market. Inside this month’s Insight video, I discuss several fundamental economic indicators that continue to show strength:
- Core Inflation
- Job Growth
- Interest Rates
In Denver, we are starting to shake off the fear from last fall’s spike in rates, drop in the market as well as the winter doldrums. Sellers are coming out as inventory continues to climb slowly back towards a March average of 14,743 active inventory, wrapping up March 2019 at 6,292 homes for sale. Months of Inventory (MOI) is still tight, however, as homes are selling as they are coming on the market. MOI is less than 2 months for both single family homes and condos, with just over 5 MOI when you get over $1 million purchase price, down from 7 months… showing some much-needed activity in the higher end markets in March.
Days on market is also down and appreciation continues to gain momentum while becoming more normalized. If this continues, we are headed towards the balanced market we have waited for so long.
Learn more about our stats and market and lending insights on our website.
The views, opinions and positions expressed within this guest post are those of the author alone and do not necessarily represent those of the Denver Metro Association of REALTORS®. The accuracy, completeness and validity of any statements made within this article are not guaranteed. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author and any liability with regards to infringement of intellectual property rights remains with them.
If you are interested in submitting a guest post, please contact Sarah at.