REcolorado

In a recent report, Realtor.com senior economist Ralph B McLaughlin explained that the overall number of homes listed for sale nationwide is up. REcolorado's Denver Metro Market Watch reveals the Colorado market echoes this trend. The full article is available here: https://hubs.la/Q02P8zmJ0

REcolorado and IRES, LLC, Colorado's two largest multiple listing services, reached an updated data sharing and information exchange agreement in a major step for market stability. Learn more: https://hubs.la/Q02P086R0

Here's a sneak peek at REcolorado's August Denver Metro Area Market Watch. More to come!

Thank you, RISMedia for highlighting our recent recognition from Ocusell who gave us its highest level of certification for operational compliance and sound business rules. Learn more here: https://hubs.la/Q02MMwt_0

REcolorado is honored to be recognized with Ocusell's highest level of certification for MLS operating principles and compliance and to be the first ever to receive it. Operational compliance and sound business rules are the foundation for delivering timely and accurate data and the best in subscriber-focused services. Learn more: https://hubs.la/Q02Mpl-_0

A summer slowdown in housing market demand and an increase in available inventory was seen across Colorado in July. According to the REcolorado July Market Watch, the Denver Metro area saw a similar trend. However, a shift may be forthcoming as mortgage rates begin to decline ahead of an anticipated Federal Reserve rate cut in September. https://hubs.ly/Q02LYcvM0

Typical of summer months, the Denver Metro housing market did slightly settle down. The July Market Watch reveals the market is still adjusting, but there are positive signs for buyers and sellers, including signs of a more balanced market, increases in inventory and an accelerated decline in mortgage rates. Learn more here: https://hubs.la/Q02LjQdj0

With an increased inventory and less demand, buyers feel less pressure to make fast decisions and take more time to do so. In the Denver Metro are, homes took a median of 16 days to move from active to pending, which is a week longer than last year. Learn more here: https://hubs.la/Q02L8sw40

This July is no exception to the often seen July 4th holiday and vacation time market cooling in the Denver Metro housing market. Home closings were slightly below last year's number and 1% lower than last month. The median closing price stayed the same month to month at $600,000, up 2% from last year at this time. Learn more here: https://hubs.la/Q02L8p290

July's Metro Denver Area Market Watch reports new listings at 11% higher than last year. The 5,342 new homes on the market contribute to Active listings reaching the highest level seen in a decade. Learn more here: https://hubs.la/Q02L8lCR0