Homebuyers beware: The pickings are slim in Denver. Despite a housing shortage pushing prices up, sellers in the Mile High City are pausing at putting their house on the market. To some the price isn’t right, and the timing is off. They’d rather hold off until spring, often seen as a better selling season. Others may be waiting to see if the impeachment hearings resolve, trade conflicts die down, or if the recession does indeed come in 2020.
If buyers were expecting a bounty of homes to choose from this holiday season, they are going to be sorely disappointed. Sellers are playing the grinch as 2019 draws to a close.
New listings for single-family homes in metro Denver last month plunged by a third from October, dropping to 2,500 from 3,768, according to the latest Market Trends Report from the Denver Metro Association of Realtors.
New condo listings also fell to 1,151 in November from 1,657in October, a 30.5% decline. And while activity drops with the temperatures, the declines are beyond those typically seen this time of year.
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