The Denver housing market is seeing a significant decline in the number bidding wars on homes, the Denver Post reports.
Redfin tracks the number of offers received on transactions where it represents the buyers. A year ago in June, half of all sales in metro Denver came with multiple offers. But at the start of this year, the ratio was down to one in five.
And in June it was down to 12.3 percent, or around one in eight homes sold. That is on par with the 12.2 percent rate seen nationally.
That partly reflects the more abundant choices that buyers have. At the end of June, there were 9,520 homes listed for sale in metro Denver, up 28 percent from a year earlier and the highest inventory available since October 2013, according to the Denver Metro Association of Realtors.
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