According to the latest DMAR report, the month of May recorded the highest housing inventory in Metro Denver since 2013 and record-breaking average single-family home price.
Market Insights from the DMAR June 2019 Market Trends Report:
- U.S. News & World Report recently ranked Denver the second best city in the country in which to live.
- Coloradoans are good at paying their mortgages on time. Only 1.78 percent of their mortgages were 30 days or more past due in April. Colorado has had the lowest rate of mortgage delinquencies of any state in the country for the past 26 consecutive months.
- Cherry Creek is on a hot streak. Over the last five years, the neighborhood has added 2,000 new residential units, 600,000 square feet of office space, 300,00 square feet of retail space and 500 hotel rooms.
- The average 30-year fixed market rate, according to Freddie Mac, was at 3.99 percent at the end of May, compared to 4.20 percent at the end of April. At the end of 2018, the average 30-year fixed market rate was 4.64 percent. Note: rates assume a 0.5 percent origination.
- The U.S. Federal Reserve is done raising interest rates until at least the end of next year, according to economists in a Reuters poll who gave a 40 percent chance of at least one rate cut by the end of 2020.
Read 5280’s article on the current Denver real estate market here.