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Illustration: Brendan Lynch/Axios

More people are putting their homes on the market in Denver, but those homes are going under contract quicker than ever.

Why it matters: Even with a slight shift in the market, potential buyers still have to be ready to move quickly and be prepared for competition.

Driving the news: According to DMAR's latest report, inventory was up 35% in April from March 2021, the largest increase on record. But inventory is still at a record low, down 62.2% from this time last year.

  • Between 1985 and 2020, the average number of active listings for April was around 14,300. This year there were just under 2,600.

Plus: Homes sold within 13 days on average last month, compared to 19 days in March.

  • Average home prices also continue to rise, up 24.2% year over year and up 6.2% from March to April.

The report also shared that the number of national Google searches about real estate are climbing, as potential buyers try to navigate the quick-paced market.

  • In a one-week period in April, the question "How much should I offer over asking on a home in 2021" jumped 350%.

Bottom line: The increase in inventory is a sign that we're back on track with a more typical real estate cycle — with more activity in spring and summer. But home prices will likely continue to rise unless inventory can keep up with demand.

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Go deeper

Dion Rabouin, author of Markets
May 5, 2021 - Economy & Business

The new housing bubble

Illustration: Aïda Amer/Axios

Today's mortgage market is much more regulated and has much stronger fundamentals than during the housing bubble of the mid-aughts, but it's not a story that's as simple as rising demand and low supply.

What's happening: Unlike the environment ahead of the 2008 crash, housing prices are not being driven higher by a raft of underqualified borrowers getting mortgages they can't afford from unscrupulous banks.

Dion Rabouin, author of Markets
May 5, 2021 - Economy & Business

Hedge funds and professional money managers keep selling stocks

Illustration: Aïda Amer/Axios

With euphoria taking over the stock market, so-called smart money investors like hedge funds and asset managers at major investment firms are hitting the sell button, expecting prices to fall.

What we're hearing: Retail traders were the only group to buy U.S. equities for the third week in a row as institutional clients sold equities for the third straight week and hedge funds sold for the fifth week, posting their largest outflows in more than a month, Bank of America's data analytics team reported in a note to clients.

Global shipping cashes in on pandemic demand

Illustration: Brendan Lynch/Axios

Consumer demand for goods grew voraciously during the pandemic, providing the perfect springboard for shippers.

Why it matters: The pandemic impacted services and goods economies disproportionately, and the recovery looks to be just about as uneven.