July 2021 Market Stats - Denver Metro Area

July 2021 market stats are in! What you need to know:⁣

This month's market update looks a little different, so check it out! What you need to know:

❗ While still in a robust seller's market, the July 2021 report indicates that as we head into fall, buyers will start to have more time to review properties and less competition on the number of offers overall.
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📈 The July residential real estate market reported an increased inventory of 29%, while it also represented a decrease in closings of 12% percent compared to the previous month, indicating a supply increase and demand decrease.
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📊 In 2018, 39% of homeowners had mortgage rates under 4%. In 2021, that percentage increased to 63%...making it harder for sellers to justify selling.
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📩 𝘈𝘴 𝘢𝘭𝘸𝘢𝘺𝘴, 𝘱𝘭𝘦𝘢𝘴𝘦 𝘴𝘦𝘯𝘥 𝘮𝘦 𝘢 𝘮𝘦𝘴𝘴𝘢𝘨𝘦 𝘪𝘧 𝘺𝘰𝘶’𝘥 𝘭𝘪𝘬𝘦 𝘢 𝘧𝘶𝘭𝘭 𝘤𝘰𝘱𝘺 𝘰𝘧 𝘵𝘩𝘪𝘴 𝘳𝘦𝘱𝘰𝘳𝘵 𝘰𝘳 𝘩𝘢𝘷𝘦 𝘢𝘯𝘺 𝘲𝘶𝘦𝘴𝘵𝘪𝘰𝘯𝘴 𝘢𝘣𝘰𝘶𝘵 𝘵𝘩𝘦 𝘮𝘢𝘳𝘬𝘦𝘵.