October Monthly Market Update
Denver’s housing inventory is up slightly and average selling prices are easing, leading to a spate of news releases questioning whether this marks the end of its sellers’ market. The foothills market, on the other hand, continues to show strength as sales remain strong and average selling prices are up 12% from last year.
The chief economist at the National Assn of Realtors recently commented on whether he forecasts a recession in near future. His response—no. Yes, consumer borrowing is growing, but not unsustainable. Pessimism about the economy might cause consumers to spend less, which could lead businesses to scale back, but the consumer confidence index is at the highest reading in 20 years. Finally, a policy error, like many business leaders are concerned about with the recent tariff wars, might cause a recession. Only time will tell, but he predicts any drop in GDP will be mild and nowhere near the intensity of the recession a decade ago.
Tupper's Team prepares a Market Segment Report every month to stay on top of activity in every price range. All price ranges up to $1.4 million remain in Sellers’ Advantage or Balanced status. If you’d like to see a copy of our latest Market Segment Report, just let me know.
We deeply value our clients and the families they refer to us. If you have a question or comment, please call, text, email or visit our website at TuppersTeam.com. We promise a speedy response.