Local Pulse July 2023

Hello again, Friends! I hope you’re enjoying the wonderful July weather in Colorado. As we savor the transition to our dog days of summer, there’s still an abundance of activities to explore both in and around the city. Rest assured, I’ve carefully selected a couple of noteworthy events for you to enjoy this month.

Now, let’s delve into the housing market. In July, active homes have surged by a significant 16.11%, showcasing a notable increase and home sales have experienced a slight decline of -7.02%. This is a typical slowdown for summer in Colorado. As we move out of the summer months and as rates start to decline watch out for housing demand to pick-up and bidding wars start again as your property values increase!

• Sellers who experienced hail damage should make timely claims and hire insured and licensed roofing companies to make repairs.
• Four hundred chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money believe stocks have entered a new bull market, and the U.S. economy will skirt a recession in 2023.
• Sixty percent of homeowners did not use a contractor for their home remodeling projects in 2022.
• Homeowners spent $337 billion on new home improvements and repairs in 2020, $368 billion in 2021 and an estimated $427 billion in 2022.
• A new survey from the National Association of Realtors® shows that a substantial demand for walkability persists for Americans of all ages.
• Average active listings for June is 15,492 (1985-2022).
• The record-high June was 2006 with 31,900 listings and the record-low was set in 2021 with 3,122 listings.