Denver’s hot October housing market bucks pre-election tradition

Despite concerns buyers would delay home purchases until after the election, metro Denver’s housing market sizzled in October.shows that 23% of first-time buyers plan to wait until after the election to purchase, citing economic uncertainty, potential rate cuts, and candidate policy impacts., homebuyers closed on 3,443 properties last month, up 2.3% from September and an 8% jump from 3,189 in October 2023. Pending sales of 3,578 were up 1% from September and 22% from 2,940 in October 2023.

The median days on market climbed 4% to 26 in October, up from 25 in September and up 63% from 16 days in October 2023.She said the attached and detached markets performed so differently that it was almost like they belonged in separate geographic locations.

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Metro Denver housing market heats up in October, despite election jittersMetro Denver’s housing market heated up instead of cooling down last month as buyers defied expectations they would take a wait-and-see approach until the election was over.
Source: denverpost - 🏆 13. / 72 Read more »