Michael RushReal Estate Broker, Keller Williams Realty DTC · Real Estate Broker at Keller Williams Realty DTC

January 2023 Colorado Housing Update 🏘️

6 Jan 2023 · 2 min

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1:38

In this January 2023 video, Colorado real‑estate guide Michael Rush provides a concise market snapshot and short‑term outlook. He notes that buyer demand has fallen about 25% as homeowners with low‑rate mortgages stay put, while sellers are adopting a wait‑and‑see stance amid uncertainty about the Federal Reserve’s inflation response. The average days on market have risen to 42, reflecting seasonality, inflation pressures, and higher rates, yet the median close‑to‑list price ratio remains steady at 98.4%, indicating a balanced market. Rush anticipates continued rate volatility in the near term but expects interest rates to ease in spring and early summer, which should revive competition. He concludes that buyers still have opportunities now, and sellers can look forward to a favorable spring‑summer selling season to achieve strong prices.

Chapters

Hey everyone, happy New Year! This is Michael Rush, your Colorado real estate guide. Just wanted to bring you some fresh market stats to bring clarity as we enter 2023. Demand is down 25% as people with low interest rates are hunkering down to see what the market does and to hold on to those great interest rates. We're also seeing sellers take a wait-and-see approach to see what the market does and to see how the Fed handles inflation. Days on market continued to increase and is now at 42 days. This is due to seasonality, inflation, high interest rates, and it's more of a balanced market. Percent of close price to list price held steady at 98.4%. Now this is kind of what I expected for things to kind of balance back out. We'll really know what's going on after we get the statistics in February for January. I think the Fed will have a delayed approach with handling inflation, and I think we do still see a little instability in rates. But as we enter the spring and early summer, I do see interest rates coming back down and competition going up. So you still have an opportunity to buy now as a buyer, and as a seller, you're going to have a great opportunity as we enter into that spring early summer selling season to get a great price for your house.