An Inventory Rebound May Be on the Horizon

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An Inventory Rebound May Be on the Horizon

Although inventory in Colorado’s real estate market remains low, slight increases in the number of available homes have signaled to homebuyers that relief may await them in the coming months. Several communities along the Front Range have seen encouraging boosts of available homes on the market in the past few weeks. For example, in Denver County, new listings were up by +2.9% in March of this year compared to the same month in 2021 – resulting in 856 new single-family properties being brought onto the market according to the Colorado Association of REALTORS.

In Boulder County, there were 369 new single-family homes brought onto the market in March – a +8.2% increase compared to the same month in March of 2021.  El Paso County saw an impressive +13.6% increase in new single-family listings during March, and Jefferson and Douglas County saw +8.3% and +3.9% increases respectively.

Even these small rises in inventory can make an impact on the market, especially for homebuyers who have spent the past few seasons competing with other buyers for the limited number of homes on the market. With interest rates on the rise – an indicator that illustrates economic recovery following a period of decline – some homebuyers are choosing to take themselves out of the market. Home prices will likely remain on an upward trend as inventory overall is still low.

This means that for those willing and able to compete with other serious buyers, there will be more homes to choose from. Sellers on the other hand will want to make the most of the current market conditions by listing early to get the best price for your home.

As always, the best thing a consumer can do when preparing to buy or sell a home is to partner with a trusted and experienced real estate professional. To learn more about how to navigate Colorado’s real estate market and begin your journey to living the life you love in a house that feels like home, visit livsothebysrealty.com.

 

 

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