The number of homes and condos available for sale in metro Denver surged by nearly two-thirds between May and June and nearly twice as many properties are now on the market compared to a year ago, according to a monthly update.
The number of homes and condos available for sale in metro Denver surged by nearly two-thirds between May and June and nearly twice as many properties are now on the market compared to a year ago, according to aBuyers, who have struggled with a record-low number of listings since pandemic lockdown orders ended more than two years ago, had four times the selection available to them at the end of June as they did at the start of the year — 6,057 vs.But that might prove small consolation.
“The stock market, inflation and cryptocurrency have all taken a hit in the last few months. Housing will eventually be a victim to the economy as a whole, but just how much is yet to be seen,” said Andrew Abrams, chairman of the DMAR Market Trends Committee, in comments accompanying the report. Abrams added it is only a matter of time before the extra inventory will impact prices, how long it takes to sell a home and the lopsided balance of power between sellers and buyers.
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