June Market Update!

The single family home inventory in Denver continues to increase a little while the number of days a home stays on the market shows that the homes are continuing to sell quickly this season.

Note:  The information above was provided by YCRE.  The first "red" arrow should be "green" - there was a 14% increase in the amount of Active homes on the market compared to last month.

Is a home in Denver Affordable?

The Denver Single Family Housing Affordability Index is a great tool to understand our housing market from a historical perspective. 

This index combines the regional household income trends with interest rates and local housing prices to calculate the proportion of local households that can afford the median priced house. From a buyer’s perspective, the higher the index the more affordable homes are, the lower the index the less affordable homes are.

Here’s how movements in the three variables affect the Index:

• Interest rates - if interest rates rise, the Index falls
• Home prices - if home prices rise, the Index falls
• Average income - if the average income rises, the Index rises