Hello everybody! Andrew Malkoski here from The Denver 100. “So, How’s the Market?” It feels like everything is in constant change, and yet nothing is changing at all. If you have been watching my videos, then you know the constant that I have been talking about month over month. Say it with me now: “Inventory Growth!” This month, we have 15% more inventory than April, and 60% more than a year ago. As of mid May, we are now at 12,166 homes available in the Denver Metro Area. Do you know the last time we saw that level of available inventory? 2011. So it isn’t just that inventory is growing, it is growing by leaps and bounds. When inventory grows like this, there has to be pressure on prices and terms. Just like inventory being the continuing story, so are interest rates. Economic volatility has done little to affect real change on interest rates in any meaningful way. Interest rates continue to be the major deterrent for buyers. Sellers are learning to accommodate buyers by negotiating for rate buy downs and concessions. We can see the rise of these terms in the fact that April’s closed homes were up 11% over March, and 4% year over year. Overall this shows that buyers and sellers have both realized that in order to buy or sell, they both have to give a little. If you know anyone looking for help navigating this market, please have them reach out to me. I am successfully helping buyers and sellers right now, and would be honored to help your friends and family.