Denver Real Estate Forecast For 2019

Dated: 12/03/2018

Views: 221

Image titleAccording to a recent analysis from realtor.com, metro Denver home sales could slow significantly next year, but the decline in activity won’t necessarily derail home price gains as existing homeowners buy up higher-value properties.

Danielle Hale, chief economist with realtor.com said that despite the anticipated slowdown in sales, the Denver housing market will remain on solid footing, with repeat buyers are likely to drive up the median price of homes in Denver as the mix shifts away from entry-level purchases.

Coming in on the heels of a 3 percent gain this year, realtor.com is calling for a 6.7-percent decline in home sales in metro Denver next year.  Despite fewer homes being sold, they predict the median price of a home sold in Denver next year will actually rise 6.8 percent.

Data from the analysis reveals that households under the age of 34 - the prime market for entry-level properties - is on the decline in metro Denver, while households comprised of move-up buyers aged 35 to 44 and 45 to 54 is expected to grow 5.2 percent and 7.2 percent respectively.

Bottom line: On the supply side, slow but steady growth in inventory is providing some relief to homebuyers. On the demand side, years of price growth outpacing income growth, along with rising mortgage rates, is making the cost of buying homes increasingly expensive.

If you’re on the hunt for a house in Denver, it may seem like your affordable options are limited. But if you know where to look there are still some great deals to be found. Contact Metrowest today – we’d love to show you around!

Blog author image

Dave Nelson

DAVE NELSON, 4-time 5280 Magazine 5 Star Real Estate Professional. Dave’s career in real estate has chronicled more than 15 years. Known as a true real estate professional, Dave is experienced i....

Latest Blog Posts

Exploring Denvers Affordable Neighborhoods

While Denver’s real estate market is experiencing a bit of a cooldown, house hunters in the Mile High City know that prices here are still high. Still, if you know what pockets to search in, there

Read More

Are Denver Sellers Missing Their Mark On Price

According to the Denver Metro Association of Realtors (DMAR), the answer is yes. Until the summer of 2018, Denver was classified as a solid seller’s market. If sellers weren’t getting flooded

Read More

Denver Housing Market Ranks Third In The Nation

While it may feel like everyone in the country is flocking to Denver, according to a new report from Zillow, Silicon Valley actually takes the top spot in terms of hot housing markets. Coming in at

Read More

Best Denver Neighborhoods For Millennials And Young Professionals

The popularity of the Mile High City is apparent in nearly every demographic. Both the old and young, natives and “transplants” alike love Denver. As newcomers flock to the area, a handful of

Read More