Home News Real estate inventories in metro Denver nearly double from last year

Real estate inventories in metro Denver nearly double from last year

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The number of homes and condominiums available for sale in Denver’s Metro surged nearly two-thirds between May and June, and now nearly double the number of properties on the market compared to a year ago. I am. Monthly updates from the Denver Metro Real Estate Association..

Buyers who have been struggling with a record number of lists since the pandemic blockade ended more than two years ago had four times the options available at the end of June. 1,477..

But it may prove a little comfort. Inventories are increasing as many homebuyers are out of the market as mortgage rates rise significantly and home prices rise.

“Stock markets, inflation and cryptocurrencies have all been hit in the last few months. Housing will ultimately cost the economy as a whole, but how much hasn’t been seen yet.” Andrew Abrams, Chairman of the DMAR Market Trends Commission, said in a comment attached to the report.

Abrams added that it’s only a matter of time before additional inventories affect prices, the time it takes to sell a home, and the balance of power between sellers and buyers.

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