According to the recent statistics from REcolorado, the amount of new listings in the metro area rose 62% in January over the prior month, with 3,515 homes new to the Denver real estate market. Additionally, the number of homes under contract rose 28%.
It’s a step in the right direction, although most experts agree there’s still a long way to go toward meeting consumer demand.
“If we could magically double the current inventory, there’s no doubt the majority would be snapped up quickly,” Anthony Rael, chairman of the Denver Metro Association of Realtors Market Trends Committee, recently told Inside Real Estate News.
Inside Real Estate notes that listings generally rise in January over December. Still, the statistics are encouraging for Denver real estate.
“An influx of new listings gave the metro Denver housing market some momentum as the new year began,” Kirby Slunaker, president and CEO of REcolorado, told Inside Real Estate. “With inventory levels remaining low and prices holding strong, the market continues to be competitive and fast-moving. Now is a great time for sellers who have been waiting to put their home on the market.”
Meanwhile, overall optimism about the housing market on a national level is also on the rise. In a survey by Fannie Mae, 67% of respondents said that now is a good time to buy a home; 47% said that now is a good time to sell, tying an all-time survey high, according to National Mortgage News.
Fannie Mae has polled 1,000 Americans by phone each month for its National Housing Survey since June 2010 to track attitudes toward homeownership and the economy.
Consumers’ upbeat feelings about their personal finances are fueling the overall optimism, according to some experts.
“Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010,” Doug Duncan, senior vice president and chief economist at Fannie Mae, told National Mortgage News, noting the spillover effect into the housing market.
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