A recent trends report from the Denver Metro Association of Realtors concludes that buyers are backing off in the area's housing market.
Inventory is rising in metro Denver, with 7.65 percent monthly growth from July to August in the share of available for-sale single-family homes and condos. Annually, inventory grew 11.8 percent, giving buyers more options. Single-family home sales decreased by nearly the same share as inventory increased, 7.46 percent month-over-month in August, The Denver Post reports. Condo sales decreased by five percent month-over-month, and fell 15.6 percent annually.
“Over the past four years, we’ve experienced the strongest sellers’ market in recorded history,” Steve Danyliw, chairman of the DMAR Market Trends Committee and local Realtor, said in the report. “This past month, we saw available homes for sale increase to the highest level in four years, giving buyers more homes to choose from.”
