Asking what’s ahead in Denver Real Estate in 2024? We all seem to be searching for the ‘new normal’ after the market frenzy fueled by the pandemic years. The term best describing 2024 is cautiously optimistic for long term prospects. Opportunities abound!
The Denverite proposes that the cut in mortgage rates could bring buyers back to the market in 2024.
Business Insider, written by Molly Grace; edited by Laura Grace Tarpley from Jan 14, 2024, “After dropping substantially toward the end of 2023, experts believe that mortgage rates will go down further in 2024. But when exactly they’ll start dropping and how much they’ll fall largely depends on inflation and when the Federal Reserve starts cutting the federal funds rate.”
The article goes onto say, “Ultimately, there’s still a lot of data to be seen between now and the March Fed meeting. If the economy shows signs of cooling, we could get a cut in March, which could allow mortgage rates to trend down a bit. But if things remain lukewarm or start to heat up, borrowers may need to wait a bit longer for lower mortgage rates.”
The Denver Market Stats December 2023 key takeaways, are that price discounts are best RIGHT NOW! Better than they have been all year. The spring market appears to be developing early so be ready.
From CBS News Denver, “Libby Levinson-Katz is DMAR’s Chair of Market Trends, and she studies statistics for hopeful buyers. Her first piece of advice is to brace yourself for the median home price and current interest rate.”
Then, when you’re serious about buying, she advises getting help from an expert: “The first call should not only be to a real estate agent but to a lender. Calling those professionals first is going to make the transition to homeownership easy.“
The timing is right, when you are ready to sell, or when you are ready to buy. We can make it happen for you. Katchen Company specialists are ready to provide an excellent home buying/selling experience! Kathy and Ed are particularly helpful in analyzing problems and developing potential solutions. They are professionals, who know how to identify appropriate candidates and will clarify all pros and cons whether you are buying or selling, they know the real estate market inside and out!
“Kathy and Ed are consummate professionals— hard working, knowledgeable, calming. From soup to nuts, they were fantastic, and we sold our property for 70K above asking! We could not be happier. Thanks!” – Jenny Wood, seller.
December 2023 Market Statistics
