Denver’s housing market situation hasn’t looked great the past few months as the housing inventory shortage hit the metro area particularly hard. But seller activity finally picked up in January. The number of homes listed rose to 4,853, nearly double that of December. Although the number of closings declined from the previous month, demand pushed pending sales up 46 percent, indicating that potential buyers were eagerly waiting for new supply to hit the market. Buyers were so starved for new homes that even with the added listings, inventory fell again last month—things are looking up, but the supply issues remain.
Home sellers came off the sidelines in January and showed buyers they were ready to play ball.
After declining in the final months of 2019, the number of new listings hitting the market surged 89.3% in January, according to a report Wednesday from the Denver Metro Association of Realtors.
Sellers, missing in action for months, listed 4,853 homes and condos for sale in January, up from the paltry 2,564 they provided in December.
“I’ve always told my December buyers to not get discouraged by a lack of choices; just like Colorado’s oft-changing weather, if they just hang in there, it will change,” said Jill Schafer, chairwoman of the DMAR Market Trends Committee, in comments accompanying the monthly report.
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