Metro Denver home sales slow again in August; prices continue to climb

DENVER BUSINESS JOURNAL - For the second month in a row, the number of homes sold in metro Denver is less than in the same month a year earlier, a sign that buyers are getting pickier as prices continue to rise.

In August, 5,124 homes sold, a decrease of 8.5 percent from the same month in 2016, and a similar drop to that seen in July, when 8.3 percent fewer homes sold than in July 2016, according to data from the Denver Metro Association of Realtors.

Year-over-year drops indicate something more than seasonality. It's expected that the residential real estate market will slow at the end of the summer, but seeing drops when comparing like-months over time demonstrates a trend that real estate agents in metro Denver are also talking about among themselves, said Steve Danyliw, chair of DMAR's market trends committee and a local real estate broker.

"Realtors are reporting that it's still a seller's market, but buyers aren't as aggressive," Danyliw said.

Read more at the Denver Business Journal: http://bit.ly/2wMVjSN

Copyright 2017 Denver Business Journal


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