February Mortgage Trends Insight | Guest Post
We’re still in the calm before the storm as winter continues on. We know the spring flurry of activity is coming soon, so how can we make the most of this time? How can we make sure we are preparing our clients for opportunities that are available NOW, as well as in future months? The most recent market trend stats offer some insightful stats that can help us out.
January was a really helpful month for the local market and involved an increase in inventory. Active listings were up 5.45% from December, with new listings up an incredible 109.7% supporting the increase of under contracts as well. The recent lack of inventory in lower price points has prevented so many from entering the market. With this new surge of inventory, we’re seeing things pick up.
With inventory up, sold homes is actually down right now. The government shutdown created slowdowns and restrictions. The holidays affected this number as well. Plus, interest rates were higher when buyers were out looking for homes in October and November to go under contract in December.
At The Rueth Team, we’re expectant for another successful peak season for the local real estate market and now is a great time to be planning for it. Pre-qualifications and pre-approvals should be the focus right now and getting your buyers ready so that they can act quickly. Prepping sellers is also a good thing to be focusing on now before the rush hits. You can help them get the best price for their property, especially in the under $500k range, by staging their home and pricing it right, letting the market bid it up.
The stats are clear that the market here is moving in a positive direction. Our team would love to go to work for you, helping you and your clients find the opportunities. With expectations of softening house price appreciation, increasing inventory and continued low mortgage rates should give everyone in the housing market an opportunity to cheer.
Learn more about the stats and our take on them on our website: theruethteam.com/market-trends
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.