What’s Happening in the Fall Real Estate Market?

Phil Belonger Real Estate Video Blog

The fall real estate market is here and it is a great time for Denver home buyers. Interest rates are low and market conditions are fantastic, partially thanks to Brexit.

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Why is now a great time to buy a home in Denver?
One reason is that interest rates are still incredibly low. When interest rates are low, homes are more affordable. Right now, interest rates are floating around 3.3%.
Interest rates are phenomenal and so are current market conditions. It is not always nice to take advantage of a neighbor’s mishaps, but in this case, everything that is happening with Brexit and the European Union has positively affected the economy here in the U.S. Brexit has created an excellent opportunity for you to purchase real estate here in Denver.
Also, market trends show that the exact same thing has happened in the Denver market over the past three years: inventory slightly increases at this time of the year, but home prices go down. Sellers tend to take less than what they were asking for, which is completely opposite of the trends we saw in the market two or three months ago.

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In the fall, inventory goes up but home prices go down.

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If you got burned by the market a couple of months ago, now may be the perfect time for you to jump back in there and take another shot. You won’t be competing against as many other buyers; herd mentality causes more people to buy homes in the spring and summer. Go against the herd and jump into the market in the fall so you can take advantage of these phenomenal rates and find the perfect home for you.
If you have any other questions about the fall real estate market or about buying a home, give me a call or send me an email. I look forward to hearing from you!