In the next couple days we will be seeing housing sales number being published. What I can tell you without spending hours crunching number is that home prices are still going up. We listed a home on Friday and had a contract in hand on Saturday. This is being seen in most places in the Denver Metro area. You are going to hear about areas such as Greenwood Village and Wash Park seeing double didget sales gains. This should not be surprising either. These areas over the past 3-4 years saw some of the largest sales losses. We saw home values drop in some cases 1/2 milllion in value over this time frame.
The other intersesting fact is that interest rates are going up too. Almost a full percent in the last 3 months. Many people who have been sitting on the fence are now starting to find that the fence has splinters...what to do? Refinance, sell, buy or just get off the fence. Those are the questions being asked. One thing that we are pretty sure is that by the end of the year we expect the interest rates to be up over 5%. (Which between you and me is still really good- do you remember when we were happy about 7%?)