DENVER — The Denver-area housing market saw a relative slowdown for inventory in July and August, but the end of September saw a 10.86% increase in inventory compared to the previous month, according to the October Denver Metro Real Estate Market Trends Report from the Denver Metro Association of Realtors. The report led DMAR experts to call this a good time to buy.
The October report showcases the September market transactions encompassing 11 counties of the Denver metro area.
In August, a relatively low number of houses hit the market, which was reflected in the number of closed properties in September: 5,233 homes, which is 12.81% lower than the same time period the month prior. It’s also a “staggering” 19.27% lower than last year at this time, wrote Andrew Abrams, chair of the DMAR Market Trends Committee, in the commentary accompanying the report.
“With lower inventory and fewer houses for sale, the balance of supply and demand stayed steady, leading to another month of competition for buyers,” Abrams wrote.
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