Nicole Rueth, senior vice president at mortgage lender The Rueth Team, expects the first quarter will see slower demand, fewer new listings and lower inventory."Q3 and Q4 will see a return to normalized fall trends as buyers take advantage of homes as they come on the market."2. Homebuyers will have more leverage
As the market settles, so will the "record-breaking appreciation homeowners have been spoiled with," realtor Jeremy Kane at eXp Realty anticipates. "This will feel like a pull-back or a loss in value, when really it is just normalizing and will provide opportunities for buyers to make more logical choices when making offers on homes," he tells Axios.and other forecasters predicting a slow decline in rates, milehimodern senior broker associate Lori Abbey expects increased excitement among buyers and sellers alike.
"This should cause a lot of buyers to get off the fence and to the closing table," Abbey tells Axios. "Homes will be a little bit more affordable for buyers than last spring and demand for listings will increase with these lower rates."New construction will be key to offsetting Denver's already tight housing supply, milehimodern broker associate Rachel Gallegos tells Axios.
"With so many homeowners opting to stay put, we will see fewer move up buyers volunteering to sell and leave their low interest rate mortgages," Gallegos says.Increased competition will come into play toward the middle of the year and beyond, Abbey, of milehimodern, expects.