Not only are Colorado house hunters willing to act in haste, but they’ll also get creative to secure their keys in this competitive market.
More than 70% of prospective homebuyers in Denver said they’d make an offer within three days of viewing a house, compared to 65% nationally, Bank of America found in its 2022 Homebuyer Insights Report.
However, the supply issue is alleviating slightly. The number of new listings for homes got a boost to 4,332 last month after hitting a low of 1,779 in December 2021, DMAR reports. Still, he noted that the combination of “record-high” sales prices, increasing interest rates and “an average close-price-to-list-price ratio of 106.46 percent” mean buyers suffer steep monthly mortgages.
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