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Wednesday, May 04, 2022

Denver Real Estate in April: Active Inventory up Sharply

by Calculated Risk on 5/04/2022 12:04:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Denver Real Estate in April: Active Inventory up Sharply

A brief excerpt:

Every month I track about 35 local housing markets in the US, and I usually post several markets at a time. But this is worth noting.

The Denver market is still hot, with historically low inventory, prices increasing, and homes selling above list price, but we are seeing a sharp increase in active inventory. We are still a long way from the “only looky-loos and crickets” phase of the housing cycle, but there is a clear sea change in active inventory.

The Denver Metro Association of Realtors® (DMAR) has released their data for April this morning. From the DMAR: DMAR Real Estate Market Trends Report
The increased interest rates are already impacting the amount of inventory sitting on the market. While Denver Metro is still relatively low in inventory, the word “historic” is no longer applicable as there were 610 fewer properties on the market last year compared to today. The market usually sees an 8.59 percent increase in month-over-month inventory. This month, it saw an outstanding 44.26 percent increase.
DMAR reports total residential active inventory (detached and attached) was 3,204 at the end of April, up 44.3% from 2,221 at the end of March, and up 23.5% year-over-year from 2,594 in March 2021. Inventory is up 171% from the all-time low set in January of this year.
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