Hello again, Friends! I hope you’re enjoying the lovely June weather in Colorado. As we transition from Spring to Summer, there’s an abundance of activities to explore both in and around the city. Don’t worry, I’ve handpicked a couple of featured events for you this month.

Now, let’s talk about the housing market. In June, inventory rose by 13.16%, following the seasonal trend. However, the demand for homes in the Denver metro area remains high, and we still need more inventory to meet the needs of our community. While April saw a decline of 6.1% in home sales compared to March, this trend is expected to change as we enter the busiest time of the year.

• Major coastal cities are experiencing significant loss of college-educated workers, most moving to next-tier cities like Phoenix, Atlanta and Denver.
• House payments hit a new high as mortgage rates jumped due to progress on the debt-ceiling deal. Daily average rates hit 7.12% on May 25-the highest level since early November.
• In May, ADP private payroll increased by 278,000 jobs, annual pay was up 6.5 percent year-over-year, job openings went back up to 10.1 million and weekly initial jobless claims only ticked up. These are all signs of a resilient job market and headwinds for a Fed rate reduction.
• Average active listings for May are 14,895 (1985-2022).
• The record-high May was 2006 with 30,457 listings and the record-low was set in 2021 with 2,075 listings.
• The historical average increase in active listings from April to May is 7.05 percent. This year’s increase of 13.16 percent represents a healthy increase but far off from our record 26.8 percent in 2019.