DMAR Digest | Week of December 12
Must read
TICKETS ON SALE NOW: 2023 Economic Summit
Given our current state of economic uncertainty and the recent shift we've experienced in our housing market, there are a lot of looming questions... Will home prices fall? Will rates drop? Will there be a recession? Join us IN-PERSON on January 13th and find out!
This is your chance to learn what the road ahead looks like for the real estate market and U.S. economy in 2023. Our experts will update us on the health of the housing market, real estate trends, interest rates, housing inventory, employment trends, local and national economic forecasts and more. This is truly a must-attend event for all agents. Attendees will receive 2 hours of CE credit as well as a recording of the program and decks from the speakers.
SPEAKERS:
- Elliot Eisenberg, President & Chief Economist for GraphsandLaughs, LLC and a nationally acclaimed economist & public speaker
- J.J. Ament, President & CEO of the Denver Metro Chamber of Commerce
- Patty Silverstein, President & Chief Economist of Development Research Partners
- Christopher Smith, Superintendent of Cherry Creek Public Schools
- Amanda Snitker, Vice Chair of DMAR’s Market Trends Committee
- Nicole Rueth, Branch Manager at OneTrust Home Loans
Skim this
5 Denver Home Building Trends to Watch in 2023 | Guest Post
Denver has been at the epicenter of westward migration since the turn of the century, with the incoming traffic unlikely to slow anytime soon. As a result, it is of the utmost importance to stay ahead of the latest home building trends to stand out in a highly competitive market. Read More
A Holiday Gift to Home Buyers: Lower Mortgage Rates
If all your buyers want for Christmas is a lower mortgage rate—they may just get it. The 30-year fixed-rate mortgage averaged 6.33% this week, according to Freddie Mac, dropping for the fourth consecutive week after hitting a high of 7.08%. Mortgage rates are falling due to increasing concerns about lackluster economic growth, says Freddie Mac Chief Economist Sam Khater. Read More
Metro Denver home sales tumbled again in November despite lower mortgage rates
Metro Denver home and condo sales continued to slow and single-family home prices also dropped last month despite the relief buyers received in the form of lower mortgage rates, according to a monthly update from the Denver Metro Association of Realtors® on Monday. The number of sales in November fell to 2,877, an 18.3% decline from October and a 48.2% decline from last year. Despite fewer sales, the number of active listings fell 14.2% on a monthly basis to 6,253, as sellers pulled back ahead of the holidays. Read More
Lending standards loosen amid high mortgage rates, slow housing market
Lending standards loosened in November for the first time in nine months as mortgage rates remaining elevated and the housing market slowed further, the Mortgage Bankers Association (MBA) said on Thursday. The MCAI rose by 1.4% to 103.4 in November, according to the MBA. An increase in the MCAI – benchmarked to 100 – indicates that lending standards are loosening while a decrease in the index is indicative of tightening credit. Read More
Denver house prices are still up from this time last year — though they are dropping
Condos, townhomes and other attached properties are actually up slightly from last month. Properties are being listed for longer and home prices are up nearly 5% from this time last year. Sellers, as they typically do, are waiting till the New Year to put their homes on the market. If the past few years have seen a trajectory of jaw-dropping price hikes, this year saw that trend slowing down. And Denver metro Realtors® are holding back on predicting too much of what the 2023 real estate market looks like, according to the Denver Metro Association of Realtors® December Market Trends Report. Read More
Resources & services
December 2022 Holiday Social Graphics [Downloadable]
In search of content for your social media feed this holiday season? We've got you! Download your FREE graphics for all the big holidays in December and January so you can keep your content fresh but skip the hassle - and save yourself some time - making them yourself. Read More
Wednesday | Excellence Awards 101: Special Virtual Workshop
Are you ready to apply for the 2023 Excellence Awards? The guidelines have been updated this year and we want to make sure you and your office are in the know. Join us for a special one-hour virtual workshop where we'll go over all the do's and dont's of applying so you can make sure your application is accurate and won't end up in the disqualified pile. We'll review the guidelines and 2023 updates, the rules for submitting an application and the best ways to submit your production reports. The workshop will cover individual, partnership, team and office applications as well as special recognition awards. Free RSVP
Wednesday | Meet + Mastermind: Business Planning Made Simple
Navigating the market may be complicated but your business plan shouldn't be. Don't miss this interactive workshop with Eric Thompson, Founder of The Leading Edge Academy, who'll guide you through a proven, straightforward process of creating a clear action plan so you can hit your goals for 2023 and beyond. You'll also learn how to keep your business plan active throughout the year and adapt it as needed. Free RSVP
DMAR Real Estate Market Trends Report | DEC. '22
The Denver Metro housing market is changing. The question on everyone’s mind is how long this change will last and what to expect next year. Most of the answers are tied directly to when we will see relief from increasing mortgage rates that have more than doubled since January. Ultimately, the spring market will be the best indicator of what the New Year will have in store for us, but the Denver market continues to exhibit stability as showcased in the data this month. Read More
DMAR Staff is Here to Help
If you are looking to reach a specific department or staff person, please refer to the staff directory here, or contact our main line at 303-756-0553 or email help@dmarealtors.com.
Just for you
Three Tier Benefits | FedEx
As a member of DMAR, you also gain access to member-only benefits and services from the Colorado Association of Realtors® (CAR) and the National Association of Realtors® (NAR).
Exclusive Express & Ground Shipping
NAR Members save on select services for both personal and business use including up to 26% on FedEx Express®, up to 12% on select FedEx Ground® services and up to 20% on select FedEx international services.
Enrollment is fast, easy and free, and there are no minimum requirements. Visit FedEx to enroll or call 1-866-869-1171. Be sure to provide program code LCRS8p01. Once enrolled, simply present your account number in-store or online to take advantage of these savings. See below for enrollment instructions to make sure you receive the savings benefit for both FedEx shipping and FedEx Office. View FedEx shipping discount summary.
