Saturday, February 10, 2018 12:38:13 AM
"The groundhog may not agree, but spring has sprung early this year, at least in the housing market. Rising interest rates and record-low supply have lured potential buyers out early — in just three days nearly 100 potential buyers toured a Denver home priced at $500,000.
"There is simply just too much demand right now," said Martin Mata, the Redfin agent showing the three-bedroom, two-bathroom home. "There is just not a lot of affordable housing here in Denver, and we have a really good economy so a lot of people are still moving here."
There were close to 26 percent fewer homes for sale in Denver in January compared with a year ago, according to Zillow. Nationally, supply is 10 percent lower than a year ago, with just three months' worth of available inventory. A six-month supply is considered to be a market balanced between buyers and sellers.
The record low supply is driving competition higher and bringing homebuyers out to the market very early...."
https://www.cnbc.com/2018/02/05/why-nearly-100-people-toured-one-denver-home-in-three-days.html
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