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There has been much written about real estate in 2019, so a simple recap is probably adequate before we have some fun talking about what to anticipate in 2020.

Last year’s interest rates (30-year) fell to 3.6% before settling in around +/- 3.75% in Q3 and Q4, with rates hugging the 4.25% range much of 2018. Denver sales nominally rose over 2018 numbers in most price ranges. The average price in Denver improved almost 6%, while nationally 3.6% was reported by Realtor.com.

The big story was low inventory (nationally and in Denver), yet demand still provided a slightly higher number of sold homes. The luxury market was uniquely healthy with sales over $1 million being 18% higher than 2018, while inventory actually rose almost 15%. With all that activity, values ran steadily, but depending on the area of town, appreciation was 1% to 3% higher.

While understanding real estate on a macro-scale is beneficial, it may be more important to pay attention to historic trends and local niches of your location. Consider what factors influence your city, part of town or neighborhood. Unemployment figures (Denver is one of the healthiest), age demographics, taxes, influx of companies, migration trends and even weather plays a role.

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