Market Trends Report April 2018

Market Trends Report April 2018

Find the April 2018 Market Trends Report as listed by Denver Metro Association of Realtors. Here are the main highlights:

• We will potentially see 4 interest rate increases in 2018, which could have an impact on the Denver housing market.
• As inventory remains tight and offers are often contingent on the sale of another home (and another behind that one), more sellers are asking for some amount of non-refundable earnest money, or extended occupancy to cover the risk of a sale not closing at the last minute.
• As of March, the city of Denver is now accepting commercial and multi-family building plans via email at PlanReview@denvergov.org.  This should save builders, architects, and developers time at the Denver Development Services office waiting for an appointment at the permit counter, and will allow more than one process to occur simultaneously. Perhaps streamlining this process will help get more new homes to the market quickly, easing the inventory shortage.
• The price of lumber, from framing to structural panels, has increased in recent weeks with some prices rising more than 30 percent.