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August 2022 Front Porch Newsletter

August 2022 Front Porch Newsletter – CLICK HERE TO READ THE FULL NEWSLETTER

Appreciation and Inflation

Boulder County continues to see double-digit appreciation year to date! We are still seeing many homes sell at list price or above when priced right.

Inventory continues to creep up in the Denver Market. With more homes on the market, buyers can finally find their perfect property without the crazy competition!
Inflation falls in July, but housing prices keep rising

After rising to its highest level in 40 years in June, inflation dropped slightly in July. Thanks to a decrease in the gasoline index the Consumer Price Index (CPI) remained unchanged from the month prior, after hitting a 1.3% seasonally adjusted rate in June, according to data released Wednesday by the Bureau of Labor Statistics. Year over year, the CPI for all items rose 8.5% in July, down from the 9.1% yearly increase reported a month ago.

“I see a significant risk of high inflation into next year for necessities including food, housing, fuel, and vehicles,” Michelle Bowman, a member of the Board of Governors of the Federal Reserve System, said in a statement. “Rents have grown dramatically, and while home sales have slowed, the continued increasing price of single-family homes indicates to me that rents won’t decline anytime in the near future. Recently, gasoline prices have moderated but are still roughly 80% higher than pre-pandemic levels due to constrained domestic supply and the disruption of world markets.”

According to CPI data, the energy index fell 4.6% from the month prior due to price drops on natural gas and gasoline, with Americans spending 7.7% less to fill their tanks than they did in June. The energy index was still up 32.9% compared to a year ago, though the rate slowed from the 41.6% jump recorded in June.

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