Low Rates, Balanced Supply & Increasing Demand

by Matt Thomas

3 Things I Think You Should Know About This Week

Number ONE - Mortgage rates continue to drop!

As of yesterday, the prevailing rate is now just 6.13%, the lowest we’ve seen in three years (since the summer of 2022).

Number TWO - The US Housing Supply hit 5 months locally and is on par with averages across the nation.

This is widely considered the first balanced market since 2016. Denver, along with LA and Portland, are considered ‘balanced metros,’ whereas cities in the Midwest and Northeast (Milwaukee, Boston, and others) remain seller’s markets. Many of the markets that were hottest in the past few years have now shifted to buyer’s markets; cities such as New York, Orlando, and Austin, to name a few.

Number THREE - Demand is Up!

The Mortgage Bankers Association reported demand for purchase mortgages surged last week to the highest level since July and is now up 30% compared to this time last year!

BOTTOM LINE

Mortgage rates are at three-year lows, housing supply has finally reached balance, and conditions are causing hesitant buyers to get off the fence. Together, that creates one of the most favorable seasons we’ve seen in several years.

If you’ve been sitting on the sidelines, wondering when the timing might feel right—this may be it. Lower rates open more doors, builders are breathing a sigh of relief, and smart money is flowing into real estate.

📩 Let’s connect. Whether you’re thinking about buying your first home, moving up, or considering investment opportunities, now’s the time to talk strategy. Shoot me a reply, call, or text—let’s put a plan in motion before the market shifts again.

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