August Market Steady…Rates DROPPING!
Posted on Tuesday, September 7th, 2010 at 11:07 pm.
The Denver real estate market leveled out in August with a slight decrease in the number of available homes and slight increases in the number of homes under contract and selling during the month. While it’s not likely to see the market improve dramatically until next year, the contiunued drop in interest rates is bringing some new buyers to the table and the number of mortage pre-approvals has increased over the past couple of months. Current 30yr interest rates are about 4.375% so in reality you purchasing power keeps increasing and the available homes at great prices are better than they’ve been in the last few months.
If you’re thinking of selling your home this summer, you really need a knowledgeable and aggressive agent more than ever before as buyers are getting aggressive in their offers and you need someone to protect your equity! If you want to keep track of what’s selling in your neighborhood, you can signup for our free Market Snapshot Report that will allow you to keep track of your local market and see the detail of all the homes currently for sale or that have sold in the last 3 months. Check it out…it’s an extremely valuable resource.
Look for mortgage rates to continue to drop but also be ready for any strong economic news that will cause those rates to become volitle.
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