Market Update | April 2024

The average price of a home in Denver increased 7% from last year and the Denver Metro area ranked as the hottest housing market in the country for a second year in a row, according to a recent analysis from U.S. News & World Report. We are still not seeing the high interest rates have a negative impact on valuations across our market.   Rates are expected to drop eventually, but it is still unknown exactly when. Amidst this speculation, understanding the factors influencing prolonged higher rates is crucial. The persistently strong inflation metrics and consumer spending continue to bolster rates, delaying anticipated cuts. While hopes for immediate rate adjustments may dim, projections suggest a gradual decline over the coming years. Considering these insights, strategic approaches such as seeking renovation projects or exploring alternative financing options can offer avenues for capitalizing on the current market dynamics. As we navigate this landscape, recognizing opportunities today can pave the way for future financial prosperity. Talk to your Invalesco Advisor about the right timing for you.