Brick and Main Real Estate October Newsletter

Real Estate Market Update

Hot or Not?

According to the latest Denver Metro Association of Realtors Market Trends report for October, a vast majority of sellers understand the days of easy, fast gains could be coming to an end. September saw an increase in month end active listings compared to the prior month and the same month in prior years with inventories concentrated in Denver, Douglas, Arapahoe, and Jefferson counties. Danielle Hale, Chief economist for Realtor.com, says the signs are pointing to a market that is shifting towards buyers but we are far from a reversal in most cities.

Like to know more about the Denver Metro real estate market? Contact us at Brick and Main RE today.

Did You Know?

The average 30 year fixed rate mortgage increased to the highest level in 15 years which is 4.97% from 4.875%. The Federal Reserve Board increased the federal funds rate by 0.25%, as expected from 2.00% to 2.25%. Another hike is expected in December as well as three more in 2019 and two more in 2020.

It is still a great time to sell! Please let us know how we can help if you are ready to list your home?

Buy Now or Later?

New home prices are increasing due in part to the Trump administration’s imposed tariffs on housing materials. Tariffs are up 10% on aluminum and 20% on steel and Canadian lumber. Experts say the industry is bracing for continued pain, as the president appears likely to move forward with the proposed tax bill on at least $200 billion worth of goods imported from China.

What’s Happening in Denver?

Join the Denver Rescue Mission this year for their annual Turkey Drive! The Mission’s annual Turkey Drive helps provide a traditional Thanksgiving meal for families and individuals who are struggling with homelessness and poverty.

To make a donation please call 303-313-2103 or visit the Denver Rescue Mission’s website and click the “donate now button.”

 

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