Denver’s supply is on par with the 10 year average. A balanced market would require at least 15000 homes vs. today’s 7000 available options. Located in Cherry Creek North, buyer’s have approximately 28 various options starting at $750,000.
Fed tightening puts a reality check on the speculating real estate buyer. Essential moves sustain the overall market. The skilled labor shortage remains the key challenge to the Fed’s success with inflation.
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The Federal Reserve’s interest rate policy to curb inflation appears to be working on controlling speculators and balancing markets like housing. Supply constraints though remain as higher costs for materials has yet to abate.