Denver Real Estate in July: Sales Off 31.6% YoY, Inventory Up 81.5%

Today, in the Calculated Risk Real Estate Newsletter: Denver Real Estate in July: Sales Off 31.6% YoY, Inventory Up 81.5%

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. Sales in Denver were off almost 32% year-over-year in July, compared to down 23.6% in June. This early reporting market suggests existing home sales will be even weaker in July than in June.
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From the DMAR: DMAR Real Estate Market Trends Report

The data confirms that the Denver Metro area is no longer in a shifting market. Instead, it has shifted, and the real estate market is more balanced. …

Every indicator points to the market shifting closer to a buyer’s market ....

DMAR reports total residential active inventory (detached and attached) was 7,361 at the end of July, up 21.5% from 6,057 at the end of June, and up 81.5% year-over-year from 4,056 in July 2021.

There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/