Isn’t it weird that there’s so much chaos and running around and spending and eating and shopping for so many days up till Christmas, and then, all of a sudden, it’s just over? Like, it’s just come and gone, and then you’re supposed to just be all back to normal. I guess that’s just the nature of the beast; it’s just kinda tricky to get back into real-life mode. But I’m trying.
We had a great holiday, though. On Christmas Eve, I made keto pancakes with plant-based butter. I mean, we survived, but I will not be doing that ever again. We made up for it on Christmas Day, so everyone likes me again.
We went tubing in Winter Park, then met friends in Breckenridge for a very long, very good fondue Christmas dinner. My kids really liked it even though they fell asleep at the table. Twice.
My mom was supposed to be here this week, but her flight was canceled, thank you South West. At least she could drive home and her luggage is with her. I heard there were planes flying around with no people and a ton of luggage. She decided to just stay home which is fine, we just saw each other in Florida.
My dad and brother are still coming at the beginning of January, however, and I can’t wait. My brother actually lived with us for a little bit (when he was around 21, over five years ago), so it’ll be great for him to see Colorado again.
Do you guys remember a while back when I told you about the podcast Redhanded? It’s by these two British women, and it’s true crime’ish. Anyway, they’re coming to Denver! I’m so excited. It’s during spring break, which is the only setback because who knows if we’ll be around, but I think we’ll get the tickets anyway, just in case. If you don’t know them and you’re looking for a new obsession, you’ll want to check them out. They’re super funny.
And last but not least, I’d like to shout out to our dear old friends, Starin and Leo who we got to have dinner with the other night. Bridger and their son have been friends forever and it was a great evening!
My Real Estate Status
I don’t have a whole lot of news at the moment. Interest rates seem to be holding, maybe dropping some. I’m anticipating that in the new year, we’ll see some new listings popping up. It’s always a slow time during the holidays, so things will start getting busy again very soon.
I looked at a house for a client on Monday. They don’t live here, but they’re flying in to see it this weekend. It’s looking good, but we’ll check out a few other places too.
All my other listings are going well. We have a closing in the near future that’s moving right along.
What To Expect from the Housing Market in 2023
Current Denver Area Real Estate Market
Showings declined as we enjoyed Christmas Weekend with family and friends. Only 4,003 showings were set in Metro Denver the week of December 21st-27th which is a decline of -50.7% less than the week before. The week between Christmas and New Year's is historically the slowest week of the year, so expect showings to decline again this week. On average there were 0.8 shows per property last week and 12 showings to go under contract. Days on Market jumped up to 44 from 34 the week prior. Days on Market are likely to be longer headed into this weekend.
New listings were down as well this week, with agents understanding that showings would be down with only 191 new listings entering the market which is down -50.3% from the week prior. There were only 14 Coming Soons, down -61.1% from the previous week helping drive our Active inventory down to 5,020 which is down -7.2% from the previous week. December 31st typically represents the largest purge of Expired listings at the end of the year helping drive our inventory down at the end of the year pushing us into our deeper Seller's Market early in 2023. I'm hoping the market will pick back up as it has in years past the weekend directly following the Super Bowl.
Confused About What's Going on in the Housing Market? Lean on a Professional
If you’re thinking about buying or selling a home, you probably want to know what’s really happening with home prices, mortgage rates, housing supply, and more. That’s not an easy task considering how sensationalized headlines are today. Jay Thompson, Real Estate Industry Consultant, explains:
“Housing market headlines are everywhere. Many are quite sensational, ending with exclamation points or predicting impending doom for the industry. Clickbait, the sensationalizing of headlines and content, has been an issue since the dawn of the internet, and housing news is not immune to it.”
Unfortunately, when information in the media isn’t clear, it can generate a lot of fear and uncertainty in the market. As Jason Lewris, Cofounder and Chief Data Officer at Parcl, says:
“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”
But it doesn’t have to be that way. Buying or selling a home is a big decision, and it should be one you feel confident making. To help you separate fact from fiction and get the answers you need, lean on a local real estate advisor.
A trusted expert is your best resource to understand what’s happening at the national and local levels. They’ll be able to debunk the headlines using data you can trust. And using their in-depth knowledge of the industry, they’ll provide context so you know how current trends compare to the normal ebbs and flows in the industry, historical data and more.
Then, to make sure you have the full picture, they’ll tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you’ll use all of that information to make the best possible decision for you.
After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where an agent comes in.
Bottom Line
If you have questions about the headlines or what’s happening in the housing market today, let’s connect so you have expert insights and advice on your side.
What Our Clients Are Saying
"Well, this is long overdue, as Victoria helped me find a house of my own right where I wanted back in January! She is top-notch when it comes to caring for her clients and spending the time and energy it takes to accomplish buying a house in this crazy Colorado market. It is my first home buying experience and as nervous as I was, Victoria made it run very smooth. I highly recommend her if you're looking for a high-quality and honest realtor! Thanks again, Vic!!!"
-Casey F.
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