June 2022 Market Update

According to Megan Aller with First American Title, "Price reductions are on the rise. 1 out of 4 listings that went under contract last week made a price reduction at approximately -5.2% from the original price."

So what is causing this shift? A big factor is rising interest rates. Rates hit levels we have not seen since 2010, reaching a peak of 5.3 percent in mid-May. This puts a hefty dent in what people can afford and combined with all-time high prices, this has inevitably priced many people out of the market.

What has stayed the same? We are currently not seeing any indicators of a housing crash. For one, we still have very few homes on the market relative to demand. And the homes that are selling are doing so in a median of just 4 days, identical to May 2021. Equity is incredibly high in Colorado and across the country, putting homeowners in a good position to sell their homes if they need or want to.

- Repaint or replace the front door

- Clean or replace the roof

- Plant flowers in a consistent palette

- A fresh coat of paint is a low

- Cost interior improvement that makes a big statement

- Light, neutral colors appeal to a wide range of buyers

- Find new curtains in a neutral color

Sort through your Storage

- Organize closets, pantries and your garage

- Minimize cluttered decorations

- Style and clean shelves and any open storage

Hire an Expert

- Ask me about Compass Lens to visualize the potential of your space

- Maximize the value of your home with Compass Concierge and make upgrades with zero upfront costs

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Vacation Home in the U.S.