Recent interest rate hikes are starting to cool Denver’s red-hot housing market. A report by Redfin shows that 46.7% of home sellers in the Denver metro lowered their prices in May. “There are two kinds of sellers in today’s market: Those who already know the market has cooled, and those who are learning about the cooling market as they go through the selling process,” says Redfin Chief Economist Daryl Fairweather. “The former wants to sell quickly before the market slows further and they’re willing to price slightly below comparable homes in their neighborhood right away, and the latter may have to drop their price if their home doesn’t attract buyers within a few weeks.
Rising Mortgage Rates Help Chill Denver Area Housing Prices
Sara B. Hansen, Denver Post: Business
Fri, 07/01/2022 - 1:00pm
Topics: redfin chief economist daryl fairweather redfin s chad murphy there s it s susan frisk west+main where monthly zillow typical denver mortgage nicole bachaud we the denver post denver denver s redfin the there the housing prices mortgage rates market sellers home homes interest shows buyers higher inventory metro remain expect sell report hikes costs payment real quickly weeks agent estate days
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