A lack of inventory and continued demand will keep sellers firmly in control of metro Denver’s housing market next year, but higher mortgage rates will make homes less affordable and keep a lid on future price gains, according to a forecast from Realtor.com. Metro Denver is expected to see a 12.5%increase in home sales next year, which ranks fourth highest out of the 100 metro areas examined, behind only Sacramento, Harrisburg, Pa., and Charlotte, N.C., according to the forecast released on Tuesday. But home prices — after revving at a 12.8% annual pace in October — will run a more modest 5.4% locally, ranking Denver 33rd on that measure, tied with Columbia, S.C. “The steadiness in mortgage rates in the first half of the year followed by the rise of mortgage rates in the second half of the year helps dampen some of the price momentum, as affordability becomes a bigger hurdle again for homebuyers,” said Danielle Hale, chief economist with the residential real estate portal, in an email. She forecasts U.S.
Similar Stories to Lights Will Shine Brighter For Denver Home Sellers Than Buyers In 2021 on Bing News
Aldo Svaldi, Denver Post: Business
Wed, 12/02/2020 - 6:00am
Topics: realtor.com sacramento harrisburg pa charlotte n.c october columbia s.c the danielle hale related articles metro denver s dick monfort s mcgregor square brighton adams county flat-fee homebuilders skylar olsen great recession nationally san diego columbus ohio zillow denver metro denver hale u.s boston sellers buyers year mortgage prices market rates rise demand decade forecast economist price estate added gains inventory housing sales prime-age turning expected strong buying millennials households time people
BING NEWS:
- Sellers still calling the shots in metro Denver’s housing market, Zillow reports
Sellers may have to negotiate a little more than before, but they maintain a strong grip on metro Denver’s housing market, even as other once-hot areas like Miami and Honolulu cool down, ...
05/17/2024 - 2:20 am | View Link - More
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