Denver Metro Agents

Last Thursday, I had the opportunity to take a day out of my busy schedule to attend the Realtor Rally for 2009. This is an annual event where Colorado real estate professionals can get together to visit and learn about new industry and market trends.

One of the keynote speakers was Lawrence Yun. Mr. Yun is Chief Economist and Senior Vice President at the NATIONAL ASSOCIATION OF REALTORS®. He is an incredible resource and it was my great pleasure to listen to him after reading so many of his publications, some of which are posted on our Denver real estate blog.

Realtor Rally 2009 - Denver, Colorado

Without getting into great detail of his Market Trends and Forecasting presentation here are some notable tidbits from his discussion:

• California has had a 100% increase in existing home sales in early 2009 as compared to the same time last year.
• The Stimulus Package will help but the question remains will it help enough to keep the economy moving along.
• Depending on how things go, the U.S. may see a 10-20% increase in sales during the second half of 2009.
• New home sales may not recover until 2010 due to the excessive inventory of existing resale homes.

If the increased stimulus spending should somehow cause an increase in inflation its possible that current homeowners will receive the benefit of increased values on their properties. Hence, if depressed home values, the $8,000 First-Time Home Buyer tax credit, low interest rates. etc, etc, are not enough, and if, inflation should kick in, current home owners and pre-inflation home buyers may have even more, such as an increasing equity, to look forward to.

Visit our website for more information about Denver market conditions and recent home sales activity.

Contact us today for more information about buying a home, or selling and upgrading,  in today’s market.