Interest rates are back above 3% again, and the Denver housing market didn’t even notice! In fact, the bidding wars that everyone keeps talking about (which are real) have pushed the median sale price for single family homes past 600K, a record high for Denver and an 18.8% increase since January. Inventory, typically measured in months, was down to 1.06 months in March. There is so much pent-up buyer demand that I believe we’ll soon be measuring it by weeks. This is going to be another fast-paced, multiple-offer summer unless we start seeing a large number of listings hitting the market soon.
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