Real Estate Market Update

Hot or Not?

Although market activity is slowing down, homes in top condition are still receiving multiple offers, but buyers seem to be taking their time, viewing multiple homes before making an offer.

This waiting around could be indicative of a national trend. According to a poll from the National Association of Home Builders, only 12% of adults are considering a home purchase within the next 12 months.

Did You Know?

It’s easy being green when you live in Colorado. The state was recently ranked as fifth most eco-friendly, with 8.091 LEED-certified residential homes and 9,870,645 LEED-certified gross square footage.

LEED, or Leadership in Energy and Environmental Design, is the most widely used green building certification system in the world and evaluates properties based on their overall sustainability.

Buy Now or Later?

With a possible recession around the corner, layoffs are starting to affect buyers’ confidence in the market. However, Realtor.com and Zillow economists agree that an upcoming recession would affect things like the stock market and trade policy, but not the housing market.

If you do opt to buy now, don’t forget to complete an inspection. Some Title Companies have reported that 33% of home purchases have fallen through due to failed inspections.

What’s Happening in Denver?

The end of the Farmer’s Market season is just around the corner, so be sure to stock up on fresh and local produce and wares while you still can! The last day of the market is Saturday, October 5th, and it won’t resume operation until next summer. You can check out more details on the last few weeks of the market by visiting this link: https://www.visitgolden.com/event/farmers-market/10669/.