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September 2023, Happy Fall! What Experts Project for Home Prices Over the Next 5 Years

Dear Friends –
Happy Fall! Something about the crisp air and warm days of September can be invigorating and energizing. And with 8 closings in these next few weeks, it seems like we have more people feeling this invigoration by getting on with their lives and buying and selling homes now versus waiting for interest rates to change.

So what is going on in the market right now?

Home sales have been stable for several months, neither rising nor falling in any meaningful way, with the prices of homes holding strong. National Association of REALTORS®, Yun Supply says, “The supply of home would need to essentially double to moderate home price gains.”
And the outlook over the next six months is promising. There is hope that mortgage rates will rest at a more reasonable 6% by early spring (they’re at 7.18% this week).
Needing something smaller, or larger, thinking of relocating or perhaps buying an investment property? Call us today, now is the time to start preparing your home for the 2024 market. Love to connect to see how we can help!
With appreciation for your business and friendship – Leslie
And just for fun this month .... We enjoyed sponsoring a "Pickleball Palooza" for "A Women's Work" and had a blast with my sister, Kristen, who came out from CA to play. Excited to be joining the YWCA board (super cool organization with the mission statement of "Ending Racism and Empowering Women"), had fun connecting with Gunbarrel neighbors with the Sweet Cow truck and what is summer without going to Coor's field with the family? And finally, GO BUFFS! 

What Experts Project for Home Prices Over the Next 5 Years

If you're planning to buy a home, one thing to consider is what experts project home prices will do in the future and how that might affect your investment. While you may have seen negative news over the past year about home prices, they’re doing far better than expected and are rising across the country. And data shows, experts forecast home prices will keep appreciating.

Experts Project Ongoing Appreciation

Pulsenomics polled over 100 economists, investment strategists, and housing market analysts in the latest quarterly Home Price Expectation Survey (HPES). The results show what the panelists project will happen with home prices over the next five years. Here are those expert forecasts saying home prices will go up every year through 2027 (see graph below):
If you’re someone who was worried home prices would fall because of stories you’ve read online, here's the big takeaway. Even though home prices vary by local market, experts project prices will continue to rise across the country for years to come. And these numbers indicate the return to more normal home price appreciation.
And while the projected increase in 2024 isn’t as large as 2023, it’s important to recognize home price appreciation is cumulative. In other words, if these experts are correct, after your home’s value rises by 3.32% this year, it’ll appreciate by another 2.17% next year. This is a good example of why owning a home is a choice that wins big over time.
To learn more, please contact me for an updated market report.

Save the Date!

Zoo Lights on Sat, Nov 11th - Sparkling Lights, Treats and Magic
Get a holiday photo with your family or loved one!
Mark your calendars now for Saturday, November 11th from 5:30pm - 8:30pm to join The Herz Team at the Denver Zoo Lights! We'll have a private reception room to connect and enjoy hot chocolate, bites and more. We'll also have a professional photographer from 5:30pm - 7:00pm to take family pics for you holiday cards! 

Scan the code to complete fun facts and get free tickets!


Market Update

Denver Metro and Boulder County Real Estate Statistics

Fall Home Maintenance

The weather is starting to cool off in the evenings and fall doesn't feel far away. Doing small maintenance work when the seasons change help keep your home running efficiently, can reduce major expenses in the future, and can minimize monthly expenses during cold weather months. 
Here's a checklist of 13 important fall home maintenance tasks to consider doing ever year.
  1. Seal any air leaks.
  2. Check your roof.
  3. Clean your gutters and downspouts.
  4. Check your smoke alarms and carbon monoxide detectors, replace batteries.
  5. Adjust your thermostat.
  6. Have your furnace inspected.
  7. Check your air and water filters.
  8. Drain your water heater.
  9. Prep your lawn and trees.
  10. Clean and store lawn equipment.
  11. Turn off and cover exterior faucets.
  12. Inspect and clean your fireplace chimney.
  13. Check for drafts.

Work With Us

Join the Herz Team for an exceptional real estate journey where your voice matters. Let us be your lifelong consultants in Boulder and Denver, creating the home of your dreams and exploring the unique charm of our communities.