December 2020 Market Stats

December Market Stats are in! What you need to know:⁣
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🔥 Home sellers continue to have the upper hand with lowest inventory available on record.⁣
To paint a picture for you, there are 31,500 homes in Highlands Ranch, and on Dec 31st only 10 detached homes and 7 attached homes were for sale. That is only 0.05% of the homes in the community! 𝐍𝐨𝐰 is the time to list. ⁣
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🏡 The average single-family home price increased to $616,895.⁣
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📉 Rates hit an all-time low for the 16th time on December 24th to 2.66%, keeping mortgage purchase applications up over 26% and refi applications up 124% from last year.⁣
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🍀 2021 will be another strong year in housing as our economy reboots as we go back to work, ball games, restaurants and travel. GDP growth is expected to hit 3.5%, unemployment 6.2% and household spending to 3.7%. Housing prices are expected to climb 8%, sales up 6%, all while rates start inching up to 3%. It will be a great year to be a buyer 𝐨𝐫 seller!⁣
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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.