Real Estate Market Update

Hot or Not?

A younger generation of buyers is starting to move into the market—and it’s not Millennials. Generation Z (ages 18 to 24) now makes up 25% of the population, which is a larger segment than both Millennials and Baby Boomers. 59% of Gen Zers want to buy a home in the next five years, and their top motivators are starting a family and building wealth.

Did You Know?

The Denver area is no stranger to local brews. Denver came in 18th place for the city with the most craft breweries, joining the ranks of Longmont (19th), Loveland (12th), Fort Collins (11th), and Boulder (4th). The number-one spot went to Portland, Maine.

Buy Now or Later?

The Federal Reserve recently decided not to raise the federal funds rate, meaning mortgage rates could decline even further in the near future. Mortgage rates are already at the lowest they have been in years, and a further decrease could lead to record lows. In Denver, home loan applications for June were up nine percent from this time last year, meaning demand remains high despite the slower summer season—and likely thanks to low mortgage rates.

What’s Happening in Denver?

Don’t miss one of the most anticipated events of the year coming up at the end of the month: the Colorado Dragon Boat Festival. Ranked by the Rocky Mountain News as a Top Annual Festival and by Westword as a Best of Denver event, the festival will feature live performances, food and drinks, arts and crafts, and dragon boat racing. This year, the festival plans to bring in 120,000 visitors. Find more info here.