Denver Home Sales Remain Strong

The Denver market has remained strong, even during the traditionally slower months of August and September, as families hesitate to move during the time when kids go back to school. It is very nice to see some balance again.  This past Spring, we saw an extremely wild market which was not sustainable.  Sellers, buyers, Realtors and lenders were losing their mind, trying to keep up.  We would see 20+ offers on one home, the day it went on the market, pushing the price up and up.  This may seem good for sellers, but it was not, based on my experience, unless the offer was made by a cash buyer.  We had more appraisals come in lower than the purchase price, during this Spring, than I had had combined in the past 11 years!  In every single case, the seller ended up lowering the price, or the buyer had to put more money down, or a combination of both.  It was really the wild west, with showings on homes taking place at 9pm, and the home going under contract the next day.  The “wild west” of this Spring was hectic, and fun at times, but not sustainable.  The current market we are seeing now still has historically low inventory, but it is more in balance, and is a positive for the health of the market.

http://www.denverpost.com/breakingnews/ci_24224555/denver-housing-market-is-stong-autumn-months