At these rates I expect sales to be strong albeit harder to close within still-tightening underwriting, higher down payment restrictions. I expect more non-conforming financing to gradually enter back into the marketplace especially when rates begin to rise.

All that being said, expect a slightly upward path for sales & more normal seasonal sales until interest rates rise. When that happens, and there are two distinct schools of thought as to timing and cause of a major rise, sales volume will be completely axiomatic as to rates; ie, there is increased sensitivity to rates so a minor rise in rates will quickly dampen sales. A major rise in rates would shut the market down similar to the weeks after 911.

This brief opinion regards only the Denver Metro area, Rural & Mountain areas are typically more severely affected by all limiting factors.

– Real Estate Broker 36 years, Mortgage Lender 3 1/2 years, MBA-University of Denver 1986 -

It’s so much nicer this year to have my telephone ringing with people who are anxious to move to Denver. Some are being transferred and others are making that decision on their own. They recognize the beauty and the opportunity in Colorado.