Monday of this week Mayor Hancock amended his “Stay At Home” order defining real estate as an “Essential Business,” meaning business involving real estate transactions were allowed to conduct business. Coronavirus is making some changes for us. Then, as evident of our ever-changing lives and news cycles, Governor Polis ordered a “Stay At Home” directive which was amended hours later to include the real estate industry as a “Critical Business.” Aside from the whiplash of being called non-essential, to essential, non-critical to critical I still have my wits about me and am working away. So, let’s talk Denver real estate!
I think the Denver real estate market is going to whether this coronavirus storm just fine. The timing isn’t ideal as we head into the beginning of the Spring selling season – aka our busiest time of year. But we have remained a strong market over the years and I predict that will continue.
Here are are some of my predictions for the upcoming year and how coronavirus is going to affect the Denver real estate market …
Ok, maybe it’s not going to skyrocket, but I do think listing inventory is going up.
I believe that those buyers who have been following the rules and sticking to the quarantine for coronavirus are going to come out of isolation hungry and eager for real estate. I know this sounds odd, but I’ve seen the same phenomenon after the holidays every year. After extended time with family, it becomes clear to many first-time buyers that they need their own space and understand the importance of having their own nest.
So, there are my predictions for this time during coronavirus. They are based on nothing else other than my experience and keeping my ear to the ground. If you have any questions or are planning to make a move this year give me a call. I would be happy to talk about the market and what approach might work best for you!