{"id":7792,"date":"2024-01-14T17:42:08","date_gmt":"2024-01-14T17:42:08","guid":{"rendered":"https:\/\/cherrycreek.life\/?p=7792"},"modified":"2024-01-14T18:59:56","modified_gmt":"2024-01-14T18:59:56","slug":"metro-denver-residential-real-estate-market","status":"publish","type":"post","link":"https:\/\/cherrycreek.life\/index.php\/2024\/01\/14\/metro-denver-residential-real-estate-market\/","title":{"rendered":"Metro Denver Residential Real Estate Market"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_row _builder_version=&#8221;4.4.3&#8243;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.4.3&#8243;][et_pb_text _builder_version=&#8221;4.4.3&#8243; hover_enabled=&#8221;0&#8243;]<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-7484 alignnone \" src=\"https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-203x300.webp\" alt=\"\" width=\"141\" height=\"208\" srcset=\"https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-203x300.webp 203w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-694x1024.webp 694w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-768x1134.webp 768w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-1040x1536.webp 1040w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-scaled.webp 1387w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-1080x1594.webp 1080w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-1280x1890.webp 1280w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-980x1447.webp 980w, https:\/\/cherrycreek.life\/wp-content\/uploads\/2023\/11\/re104-480x709.webp 480w\" sizes=\"(max-width: 141px) 100vw, 141px\" \/><\/p>\n<p><strong>Metro Denver Residential Real Estate<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Here is a summary of the current real estate market conditions in the Denver, Colorado metropolitan area:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Denver housing market has seen robust growth in recent years driven by a strong local economy and an influx of new residents from other states. However, the market has begun cooling slightly in 2022 and 2023 as mortgage rates have risen significantly, slowing home sales and price growth.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Key points about the current Denver metro real estate market:<\/span><\/p>\n<ul style=\"list-style-type: disc;\">\n<li><strong><span style=\"font-size: 12pt;\">Home prices rose rapidly from 2020-2021, with the median price up over 21% to around $580,000. Price appreciation has slowed in 2022-2023 but remains relatively high.<\/span><\/strong><\/li>\n<li><strong><span style=\"font-size: 12pt;\">Home sales set new records in 2020 and 2021 during the pandemic, fueled by low mortgage rates. But higher interest rates have dampened sales, which are expected to decline year-over-year.<\/span><\/strong><\/li>\n<li><strong><span style=\"font-size: 12pt;\">Inventory remains extremely tight, with less than a month\u2019s supply of homes on the market. This shortage of homes available continues to put upward pressure on prices.<\/span><\/strong><\/li>\n<li><strong><span style=\"font-size: 12pt;\">Mortgage rates have jumped over the last 12 months from 3% to over 7%, significantly reducing buyer affordability and causing many to delay home purchases.<\/span><\/strong><\/li>\n<li><strong><span style=\"font-size: 12pt;\">Denver&#8217;s strong economy and job growth drive ongoing population and housing demand, especially among millennials looking to buy homes. However, higher costs are pricing some buyers out of the real estate market, primarily first-time home buyers.<\/span><\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metro Denver Residential Real Estate Here is a summary of the current real estate market conditions in the Denver, Colorado metropolitan area: The Denver housing market has seen robust growth in recent years driven by a strong local economy and an influx of new residents from other states. However, the market has begun cooling slightly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-7792","post","type-post","status-publish","format-standard","hentry","category-cherry_creek_news_cherrycreek-life_laurel_condos_retail_construction_completed"],"_links":{"self":[{"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/posts\/7792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/comments?post=7792"}],"version-history":[{"count":0,"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/posts\/7792\/revisions"}],"wp:attachment":[{"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/media?parent=7792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/categories?post=7792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cherrycreek.life\/index.php\/wp-json\/wp\/v2\/tags?post=7792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}