Colin is a photojournalist who joined Denver7 in February 2021.
DENVER — Last week, the Federal Reserve cut its interest rate by half a percentage point, the largest cut since March 2020. This rate cut is already trickling into the real estate industry — prompting more home-buyers to get off the fence and into the market. But the promise of a lower mortgage payment isn't the only thing that is contributing to a softening housing market in the Denver metro area. Take Sam and Michael Gustafson for example. They are looking to buy their first home together.
People like Sam and Michael can expect two and a half months of inventory to be available to them. Compare that to two and a half weeks during the pandemic. “If all the buyers out there are looking, we would have inventory enough for them to all get a property within two and a half months,' Dysart said. 'I am seeing the market start to tick up a little bit, more buyers getting out there, going under contract, more properties going under contract.
Denver Real Estate Market Federal Reserve Home Buying Housing Housing Market Interest Market Rate Cut
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