Colorado’s housing market remained relatively stable in July due to higher interest rates and limited available homes. The latest Market Trends Housing Report from the Colorado Association of…
Statewide, active listings dropped by 1% month-over-month but declined 19% from July 2022.
“July is another example of our market being unpredictable. We were on a trend of fewer sales than the previous year, but July saw a one-year change in sold listings that were up 33% from last year. While active listings fell 8.7%, July bucked the trends,” saidNew listings for all property types dropped 24% in the Denver metro area and more than 21 statewide since July 2022; concurrently, closings were down 17% and 16%, respectively.
“The lack of houses on the market continues to be one of our biggest challenges with sellers holding on tightly to their homes and their rate. With 2.8 months of inventory on the market in Boulder County, the choices are slim, but buyers are taking their time in hopes the rates go down,” saidMeanwhile, the average days on the market climbed to 26 in metro Denver and 37 days statewide .
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