All Denver Real Estate Blog

All Denver Real Estate Blog*** 1-877-378-8213***

Larry Hotz, Kentwood Real Estate, Greenwood Village, Colorado

  • Home
  • MLS Search
  • Relocation
    • Neighborhood Finder
    • Relocation Package
    • Relocation Articles
    • Relocation Map
    • Denver Suburbs
    • Corporate Relocation
    • Denver Weather
    • Denver Relocation Realtors You Can Trust
  • Luxury Real Estate
    • New Luxury Listings
    • Luxury Homes Blog Articles
    • Cherry Hills Village
    • Greenwood Village
    • Castle Pines Village
    • BackCountry
    • Heritage Hills
    • Luxury Gated Communities
  • Blog
    • Latest Blog Articles
    • Real Estate News
    • New Denver Homes
    • Realtor Stories
    • Denver Relocation
    • Home Loans
    • Kentwood Company
    • Downtown Denver
    • Stapleton
    • Evergreen, Colorado
    • South Suburbs
    • Boulder, Colorado
    • Highlands Ranch
    • West Suburbs
    • Louisville
    • North Suburbs
    • Aurora
  • Buying
    • Home Mortgage Rates
    • Buyer Broker Advantages
    • First Time Homebuyers
    • Denver Metro Schools
    • Denver Crime
    • Interactive Denver Crime Map
    • Denver Churches
    • Denver Synagogues
  • Selling
    • Free Home Valuation
    • Kentwood Company
    • Kentwood Advertising
    • Agent Criteria
    • Listing Services
    • Seller Tips
    • Out-State Referral
  • Our TV Shows
  • About Us
    • The Hotz Group REALTORS®
    • Meet Larry Hotz
    • Luxury Homes Realtor Elizabeth Hotz
    • Trust Meredith Hotz
    • Dotson Skaggs, Castle Rock
    • Martin Team, Littleton
    • Robert McGuire, Downtown
    • Boulder, Louisville Realtor
    • Tom Cryer, Denver Relo
    • Meet Steven Kruse
You are here: Home / Denver Relocation / Denver Relocation Holds Up Home Prices

Denver Relocation Holds Up Home Prices

December 30, 2019 By Larry Hotz, Kentwood Real Estate Leave a Comment

Denver Relocation Map

Relocation to Denver continues to hold-up our real estate prices.

Often, buyers will ask me if home prices in Denver will start to decline anytime soon. My answer is always the same. That’s not likely unless people stop moving to Denver more than they leave.  Denver relocation is mostly responsible for steady to increasing Denver home prices.

So, as long as folks keep relocating to Denver, home prices are likely to hold steady or continue to increase. But, the rate of increase in most Denver neighborhoods is slowing down.

These are facts about the Denver real estate market.

Number Denver Real Estate Listings Holds Steady

Number of exisitng homes for sale is at the year’s lowest point. That’s about 3000 homes for sale now.

The supply of homes for sale is following the same pattern as last year.

Supply of existing homes for sale in the Denver Metro real estate market is about the same as it was a year ago. That’s about 3000 single family homes for sale in the six county Metro real estate market. Notice that we have not included Boulder County because of the unusually high demand for homes there.

The supply pattern continues to show more listings for sale in the spring months and fewer homes for sale in late fall and winter. Because, home sellers want to capitalize on the higher buyer demand from early spring to the Fourth of July.

Why People Keep Relocating To Denver?

Denver relocations

Most Denver relocations come from California.

The answer is pretty simple really. They are moving here for jobs. In October, the metro Denver unemployment rate hit an historic low of 2.6%. We’ve enjoyed a low unemployment rate for most of the last decade.

But, this new rate is the lowest since 1976! So, everyone moving to Denver is virtually assured to get job if they want one. Millennials can also find plentiful employment. So, lots of Denver apartments have been built to accommodate the demand for rentals.

What Could Change in 2020?

Look for mortgage interest rates to continue to creep up. While the Federal Reserve Board as pledged to keep short term rates constant, longer term rates are still likely to increase slightly according to most experts.

Denver home sales

Home sales are laggin last year’s sales by about 10%. But, absorbsion of homes is still around 1 month.

The only other wild card could be that the number of sales continues to decline. Denver home sales for the last two months have lagged 2018 by a little more than 10%. But, when a Denver relocation buyer moves here for employment, they have to live somewhere. So, most will still choose to buy a home from the limited inventory of new or existing homes for sale.

Home prices are likely to be held-up by Denver relocation buyers continuing to move here in 2020. Of course, if  a major catastrophe occurs, all that could change. But, the consensus is that interest rates and Denver home price will hold steady to increase slightly.

The bottom line is that Denver homes are not likely to decline anytime soon. The lesson for buyers continues to be to buy now for less. Tomorrow home prices and interest  rates are more likely to a little higher.

 

 

 

No votes yet.
Please wait...

Filed Under: Denver Relocation

About Larry Hotz, Kentwood Real Estate

Larry Hotz is the team coordinator at All Denver Real Estate. He is also an active real estate broker at The Kentwood Company in Greenwood Village, Colorado. He lives in the Heritage Hills neighborhood of Lone Tree, a Denver suburb. He is an active member of the Metro Denver Association of Realtors and Metrolist, the local MLS.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Easy Homes Search

Our New Phone Search App

We just made an app that’s easier to use! Lighter. Totally private and secure. We don’t sell your data!
Littleton Colorado and Ken Cary

Search Our Website

Denver Resources

  • Neighborhood Finder
  • Denver City Neighborhoods
  • Suburbs For Relocation
  • Home Buyers Relocation Package
  • Best Denver Schools
  • Dream Home Finder
  • Denver New Homes

Featured Properties

15265 W. LaSalle in Lakewood

15265 W LaSalle Avenue, Lakewood, Co in Solterra

Price: $1,190,00 Bedrooms: 5 Baths: 4 Sq. Ft: 4,196 Finished Year Built: 2014 Stunning … [Read More...]

Pine Creek living room

10071 Clovercrest Drive, Colorado Springs, Co 80920

Price: $850,000 Bedrooms: 3 Baths: 3 Sq. Ft: 3,432 total Year Built: 2001  Property … [Read More...]

960 Pennsylvania Street, Unit 4, Denver CO 80203

Price: $599,000 Bedrooms: 2 Baths: 3 Sq. Ft: 1,432 finished Year Built: 1977 960 Pennsylvania … [Read More...]

2443 S Bannock St Denver, CO

Price: $575,000 Bedrooms: 3 Baths: 1 Sq. Ft: 1,236 Year Built: 1925 2443 S Bannock St … [Read More...]

Happy Clients


Chris and Kira's Move From Texas

  More Video Testimonials

Copyright 2000-2022 by Loren Hotz Owner of All Denver Real Estate. All Rights Reserved. Loren (Larry) is a Broker Associate of The Hotz Group at Kentwood Real Estate. Some articles on this real estate blog were written by Brokers employed by various brokerages including Kentwood Real Estate as identified. Market statistics for the City and Denver Suburbs were provided by the Denver MLS search company, ReColorado.