Low Inventory and Continued High Demand [Weekend Reading]

I think that we are all relieved that it's a new week. Start it off on a positive note and catch up on some real estate news.

1. Tech Workers Take to the Mountains, Bringing Silicon Valley With Them
Sound familiar, Colorado?

2. Homeowners and buyers are the real winners in this election
According to Realtor.com and the National Association of Realtors, homes sold faster in October than September and prices remained at their summer peak of $350,000 for the first time since 2011.

"New homes represent new supply. Increased supply – inventory – gives buyers more choices and helps hold down prices, not just for new construction but for existing homes as well. If fewer new homes are being built, real estate prices would likely be higher than they are today."

"The median closing price on a single-family home was $519,900  in October, an increase of 1.9% from September and 14.3% from October. The average closing price was $625,100, a 4.5% gain from September and an 18% increase over the past year."

More than 3.5% of all the rentable office space in the Denver-Boulder-Aurora metro area was available for sublease at the end of September.

Osman Parvez  is the Founder and Employing Broker of House Einstein. Originally from the Finger Lakes region of New York, he lives in Boulder with his wife and their Labrador Retriever. He has been a Realtor since 2005.

Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. For more information, click HERE.

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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. House Einstein strongly recommends conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.  

Please Note

This document contains forward-looking statements. You are strongly cautioned that investment results are subject to business, economic and other uncertainties. There are no guarantees associated with any forecast and the opinions stated here are subject to change at any time. Always consult your financial advisor before making an investment decision.