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Denver-area housing market caps off 2020 with another record-setting month

Low inventory has put a strain on buyers, who must often compete with multiple offers and in some cases are waiving inspection or appraisal rights to buy their home

DENVER — Active for-sale housing inventory in the 11-county Denver metro reached an all-time low at the end of December, capping off a historic year for Denver's housing market.

Just 2,541 homes remained on the market at the end of the year after buyers closed on 4,807 homes in the final month, the highest amount recorded in any December, according to Denver Metro Association of Realtors' latest monthly report.

In fact, more homes traded hands in the Denver metro in 2020 than ever before, despite the pandemic and economic turmoil that engulfed the country for most of the year. Buyers purchased 62,985 homes throughout the year, 6.95% more than the previous year.

That led to the first time in Denver history that total inventory (including both detached homes and attached, such as condos) has fallen below 3,000.

Read more at the Denver Business Journal

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