We have life! There has been a slight uptick in new listings and pending sales. Is this the dead cat bounce going into a typical fall slowdown? We will see.
The seasonality of all real estate markets are very apparent. As the market continues to struggle with the gripes of higher rates in 2023, are we going to see a more significant fall decline? Time will tell.
Here at the RealGroup we are fortunate to have a detailed insight to the rental market, as well as the standard real estate market. The rental markets tend to move in parity with the general real estate market, but occasionally we see them as a leading indicator. Take for example 2021 and 2022. We saw a significant increase in interest in relocations coming to Denver. This later matched the rapid rise of the markets. We are seeing the interest level in the rental market fall dramatically. Our prediction is for a slower fall market this year because of this. Keep an eye out of quality products that are sitting abnormally long on market.