For the last three years, brokers have been begging for a market where buyers weren’t competing on multiple offers for practically every transaction. Most have maintained the mantra: BRING ON MORE INVENTORY! Now, as the inventory and days on market are finally increasing, many are squawking about a bursting bubble. So what is it, a bursting bubble, or a better-balanced market?
In 2019, Buyers Can Take More Time
Kelcey McClung, reporter for the Denver Business Journal, wrote a thoughtful article concerning where Denver’s housing market might be headed this year. The article points out that the increased inventory — although still low — is allowing many buyers to begin to take a little more time in the buying decision. The spring buying season will be busy. In fact, there was a significant uptick in showing traffic December vs. November.
Potential for Increased Sales
Hopefully, we will see what many have been looking for: a busy selling season with a more balanced market that allows more buyers to find a home. Once we all get over the shock of homes staying on the market for more than 10 days we’ll probably all be thankful for the potential increase in sales volume. Sure is a great time to get your buyers in the car!